Common use of Assignments Clause in Contracts

Assignments. Any Lender may assign to one or more Eligible Assignees all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

Appears in 8 contracts

Samples: Credit Agreement (Resaca Exploitation, Inc.), Credit Agreement (Resaca Exploitation, Inc.), Credit Agreement (Resaca Exploitation, Inc.)

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Assignments. Any Lender may may, in the ordinary course of its commercial lending business and in accordance with applicable law, at any time and from time to time, assign to one any Lender or more Eligible Assignees any Affiliate or Approved Fund thereof or, with the consent of the Borrower, the Administrative Agent and the Issuing Lender (which consent of the Borrower, the Administrative Agent and the Issuing Lender shall not be unreasonably withheld or delayed and which consent shall not be required from the Borrower during the continuation of an Event of Default), to an additional bank or financial institution (an "Assignee") all or any portion part of its rights and obligations under this Agreement and the other Loan Documents pursuant to an Assignment and Acceptance, substantially in the form of Exhibit E (includingan "Assignment and Acceptance"), without limitationexecuted by such Assignee, all or a portion of its Commitments, the Advances owing to it, the Notes held by itsuch assigning Lender, and (to the participation interest extent required by this paragraph) the Administrative Agent and the Issuing Lender (and, in the Letter case of Credit Obligations held by it); provided, however, an Assignee that (i) each such assignment shall be of is not then a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be Lender or an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess Affiliate thereof, (iiiby the Borrower) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver delivered to the Administrative Agent, Agent for its acceptance and recording in the Register, provided that, in the case of any such assignment to an Assignment additional bank or financial institution, (i) the sum (without duplication) of the aggregate principal amount of the Commitments and Acceptance, together with Exposure being assigned shall not be less than $5,000,000 (or such lesser amount as may be agreed to by the Notes subject to such assignment, Borrower and the Administrative Agent) and (vii) each Eligible Assignee the sum (other than the Eligible Assignee without duplication) of the Administrative Agent aggregate principal amount of the Commitments and Exposure retained by the assigning Lender, if any, shall not be less than $5,000,000 (or an Affiliate of a Lender) shall pay such lesser amount as may be agreed to by the Borrower and the Administrative Agent a $3,500 administrative feeAgent). Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each determined pursuant to such Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (Ax) the assignee Assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to provided in such Assignment and Acceptance, have the rights and obligations of a Lender hereunder with a Commitment as set forth therein, and (By) such the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to provided in such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such an assigning Lender’s 's rights and obligations under this Agreement, such assigning Lender shall cease to be a party hereto), but shall retain its rights pursuant to Sections 2.13, 2.14, 2.15 and 9.5 in respect of the period prior to such effective date.

Appears in 6 contracts

Samples: Credit Agreement (Edison International), Credit Agreement (Edison International), Credit Agreement (Southern California Edison Co)

Assignments. (a) Any Lender may at any time assign to one or more Eligible Assignees Persons (any such Person, an “Assignee”) all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement share of the Loan, with the prior written consent of Agent and, so long as no Event of Default exists, Borrower (which consents shall not be unreasonably withheld or delayed and shall not be required for an equal percentage with respect assignment by a Lender to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such a Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender or an Approved Fund of a Lender). Except as Agent may otherwise agree, any such assignment (other than any assignment by a Lender to a Lender or an Affiliate or Approved Fund of a Lender) shall pay be in a minimum aggregate amount equal to $2,500,000 or, if less, the Administrative entire principal amount of the Loan being assigned. Borrower and Agent shall be entitled to continue to deal solely and directly with such Lender in connection with the interests so assigned to an Assignee until Agent shall have received and accepted an effective Assignment Agreement executed, delivered and fully completed by the applicable parties thereto and a processing fee of $3,500 administrative fee. Upon to be paid by the Lender to whom such executioninterest is assigned; provided, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date that no such fee shall be at least payable in connection with any assignment by a Lender to a Lender or an Affiliate or Approved Fund of a Lender. Any attempted assignment not made in accordance with this Section 10.8.1 shall be treated as the sale of a participation under Section 10.8.2. Borrower shall be deemed to have granted its consent to any assignment requiring its consent hereunder unless Borrower has expressly objected to such assignment within three Business Days after the execution notice thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

Appears in 5 contracts

Samples: Control Agreement (Earth Biofuels Inc), Credit Agreement (PNG Ventures Inc), Credit Agreement (Earth Biofuels Inc)

Assignments. Any Lender Bank may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of any of its Commitments, the any Advances owing to it, the and any Notes held by it) with the consent, not to be unreasonably withheld, of the Administrative Agent and the participation interest Borrower (provided that the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within five (5) Business Days after having received notice thereof and provided, further that the Borrower shall have no such consent right in the Letter case of Credit Obligations held by itassignments to a Bank or any Affiliate of any Bank or if a Default has occurred and is continuing); provided, however, that (i) each such assignment of an assigning Bank’s Commitment shall be of a constant, and not a varying, percentage of all of such LenderBank’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Creditsuch Commitment, (ii) the amount of the Commitments each such resulting Commitment, and applicable Advances of such Lender being assigned the assigning Bank (unless it is assigning all its Commitment) and the assignee Bank pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not in no event be less than $5,000,000 10,000,000 for any applicable Commitment and shall be an integral multiple of $1,000,000 in excess thereof(unless each of the Borrower and the Administrative Agent consents; provided that the Borrower shall have no such consent right if a Default has occurred and is continuing), (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and AcceptanceAssignment, together with the any Note or Notes subject to such assignment, and shall pay all legal and other expenses in respect of such assignment and (v) each Eligible Assignee (other than the Eligible Assignee of assignor or the Administrative Agent or an Affiliate of a Lender) assignee shall pay to the Administrative Agent a an assignment fee of $3,500 administrative feein connection with such assignment (which shall be waivable by the Administrative Agent in its sole discretion). Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and AcceptanceAssignment, which effective date shall be at least three (3) Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and AcceptanceAssignment, have the rights and obligations of a Lender Bank hereunder and (B) such Lender Bank thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and AcceptanceAssignment, relinquish its rights and be released from its obligations to lend under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such LenderBank’s rights and obligations under this Agreement, such Lender Bank shall cease to be a party hereto).

Appears in 4 contracts

Samples: Credit Agreement (Brinker International, Inc), Credit Agreement (Brinker International, Inc), Credit Agreement (Brinker International, Inc)

Assignments. Any Lender The Maker may not assign to one any of its rights or more Eligible Assignees obligations under this Note without the consent of the Payee. The Payee may at any time assign all or any a portion of its rights and obligations under this Agreement (includingNote without the prior written consent of the Maker, without limitationbut upon notice to the Maker, all which notice shall set forth the name address and contact information of such assignee; provided that, in the event of any partial assignment or a portion of its Commitmentsassumption to any Person, the Advances owing Maker shall have no obligation to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage communicate with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect or otherwise report to such assignment) assignee and such assignee shall benot have any rights of consent or approval, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each with all such assignment shall be to an Eligible Assignee, (iv) rights remaining with the parties to each such assignment shall execute and deliver Payee. Subject to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recordingforegoing, from and after the effective date specified in each Assignment assignment and Acceptanceassumption, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes to this Note and, to the extent that rights of the interest assigned by such assignment and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptanceassumption, have the rights and obligations of a Lender hereunder the Payee under this Note, and (B) such Lender thereunder the Payee shall, to the extent that rights and obligations hereunder have been of the interest assigned by it pursuant to such Assignment assignment and Acceptanceassumption, relinquish its rights and be released from its obligations under this Agreement Note (and, in the case of an Assignment assignment and Acceptance assumption covering all or of the remaining portion of such LenderPayee’s rights and obligations under this AgreementNote, such Lender the Payee shall cease to be a party hereto)) but shall continue to be entitled to the benefits of Section 14 with respect to facts and circumstances occurring prior to the effective date of such assignment, subject to any corresponding obligations and liabilities of the Payee with respect thereto. In no event shall the Payee make any assignment to, or allow any assumption by, any Person (other than an affiliate of the Payee) which would constitute a competitor of the Maker or its affiliates with respect to procurement, manufacture, production, delivery and sale of ethanol and related products.

Appears in 4 contracts

Samples: Master Terms Agreement (MGP Ingredients Inc), Master Terms Agreement (Seacor Holdings Inc /New/), Agreement and Plan of Merger (Seacor Holdings Inc /New/)

Assignments. Any Lender may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, including all or a portion of its CommitmentsRevolving Commitment, the Advances owing to it, the Notes held by it, if any, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of all of such Lender’s rights and obligations assigned under this Agreement as a Lender and shall involve a ratable assignment of such Lender’s Revolving Commitment and such Lender’s Revolving Advances and shall be in an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Creditamount not less than $5,000,000, (ii) the amount of the Commitments resulting Revolving Commitment and Revolving Advances of such the assigning Lender being assigned (unless it is assigning all its Revolving Commitment) and the assignee Lender pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not in no event be less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof10,000,000, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes applicable Notes, if any, subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 4,000 administrative fee; and (vi) the Administrative Agent shall promptly deliver a copy of the fully executed Assignment and Acceptance to the Administrative Agent. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto)) but shall continue to be entitled to the benefits of Sections 2.8, 2.9, 2.11, 9.4, 9.7 and 9.16 with respect to facts and circumstances occurring prior to the effective date of such assignment. Notwithstanding anything herein to the contrary, any Lender may assign, as collateral or otherwise, any of its rights under the Credit Documents to any Federal Reserve Bank.

Appears in 4 contracts

Samples: Credit Agreement (National Oilwell Varco Inc), Assignment and Assumption (National Oilwell Varco Inc), Assignment and Assumption (National Oilwell Varco Inc)

Assignments. Any Lender Bank may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its CommitmentsCommitment, the Advances owing to it, the it and any Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of all of such LenderBank’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect involve a ratable assignment of the Commitments such Bank’s Commitment and the related Advances and Letters of Creditsuch Bank’s Advances, (ii) the amount of the Commitments resulting Commitment and Advances of such Lender being assigned the assigning Bank (unless it is assigning all its Commitment) and the assignee Bank pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not in no event be less than $5,000,000 10,000,000 and shall be an integral multiple of $1,000,000 in excess thereof1,000,000, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, (v) the consent of the Administrative Agent shall be required, which consent shall not be unreasonably withheld or delayed, except with respect to assignments to other Banks or an Affiliate of the assigning Bank, (vi) no such assignments shall be made to the Borrower or its Affiliates or any of their respective subsidiaries or any natural Person, and (vvii) each Eligible Assignee (other than the an Eligible Assignee of the Administrative Agent or which is an Affiliate of a Lenderthe assigning Bank) shall pay to the Administrative Agent a $3,500 administrative fee; provided, however, that the Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender Bank hereunder and (B) such Lender Bank thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such LenderBank’s rights and obligations under this Agreement, such Lender Bank shall cease to be a party hereto). Notwithstanding anything herein to the contrary, any Bank may assign, as collateral or otherwise, any of its rights under the Credit Documents, including to any Federal Reserve Bank or other central bank, and this Section shall not apply to any such assignment.

Appears in 4 contracts

Samples: Term Loan Agreement (LaSalle Hotel Properties), Guaranty and Contribution Agreement (LaSalle Hotel Properties), Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties)

Assignments. Any Each Lender may assign to one or more Eligible Assignees all or any a portion of its rights and obligations under this Credit Agreement (including, without limitation, all or a portion of its CommitmentsLoans, the Advances owing to it, the Notes held by itits Loan Notes, and the participation interest in the Letter of Credit Obligations held by itits Commitment); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) that: each such assignment shall be to an Eligible Assignee; each of (A) the Administrative Agent and (B) the Issuing Lenders, shall have provided their written consent (ivnot to be unreasonably withheld); subject to the definition of "Eligible Assignee", the Borrower shall have provided its written consent (not to be unreasonably withheld) which consent shall not be required during the existence of a Default or Event of Default; any such partial assignment shall be in an amount at least equal to $10,000,000 (or, if less, the remaining amount of the Commitment being assigned by such Lender) or an integral multiple of $5,000,000 in excess thereof; each such assignment by a Lender shall be of a constant, and not varying, percentage of all of its rights and obligations under this Credit Agreement and the Loan Notes; and the parties to each such assignment shall execute and deliver to the Administrative Agent, Agent for its acceptance and recording in the Register, an Assignment and AcceptanceAgreement in substantially the form of Exhibit 12.3, together with a processing fee from the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee assignor of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee4,000. Upon such execution, delivery, and acceptance and recordingof such Assignment Agreement, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to of such Assignment and Acceptanceassignment, have the rights obligations, rights, and obligations benefits of a Lender hereunder and (B) such the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to of such Assignment and Acceptanceassignment, relinquish its rights and be released from its obligations under this Agreement Credit Agreement. Upon the consummation of any assignment pursuant to this Section 12.3(b), the assignor, the Administrative Agent and the Borrower shall make appropriate arrangements so that, if required, new Loan Notes are issued to the assignee. If the assignee is not incorporated under the laws of the United States of America or a State thereof, it shall deliver to the Borrower and the Administrative Agent certification as to exemption from deduction or withholding of taxes in accordance with Section 4.4. By executing and delivering an assignment agreement in accordance with this Section 12.3(b), the assigning Lender thereunder and the assignee thereunder shall be deemed to confirm to and agree with each other and the other parties hereto as follows: (andA) such assigning Lender warrants that it is the legal and beneficial owner of the interest being assigned thereby free and clear of any adverse claim and the assignee warrants that it is an Eligible Assignee; (B) except as set forth in clause (A) above, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Credit Agreement, any of the case of an Assignment and Acceptance covering all other Credit Documents or any other instrument or document furnished pursuant hereto or thereto, or the remaining portion execution, legality, validity, enforceability, genuineness, sufficiency or value of such Lender’s rights and this Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto or the financial condition of the Borrower or the performance or observance by the Borrower of any of its obligations under this Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto; (C) such assignee represents and warrants that it is legally authorized to enter into such assignment agreement; (D) such assignee confirms that it has received a copy of this Credit Agreement, the other Credit Documents and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such assignment agreement; (E) such assignee will independently and without reliance upon the Administrative Agent, such assigning Lender or any other Lender, and based on such documents and information as it shall cease deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Credit Agreement and the other Credit Documents; (F) such assignee appoints and authorizes the Administrative Agent to take such action on its behalf and to exercise such powers under this Credit Agreement or any other Credit Document as are delegated to the Administrative Agent by the terms hereof or thereof, together with such powers as are reasonably incidental thereto; and (G) such assignee agrees that it will perform in accordance with their terms all the obligations which by the terms of this Credit Agreement and the other Credit Documents are required to be performed by it as a party hereto)Lender. For avoidance of doubt, the parties to this Credit Agreement acknowledge that the provisions of this Section 12.3 concerning assignments relate only to absolute assignments and that such provisions do not prohibit assignments creating security interests, including any pledge or assignment by a Lender to any Federal Reserve Bank in accordance with applicable law.

Appears in 4 contracts

Samples: Credit Agreement (Consolidated Natural Gas Co/Va), Credit Agreement (Dominion Resources Inc /Va/), Credit Agreement (Consolidated Natural Gas Co/Va)

Assignments. Any Lender may may, in the ordinary course of its commercial lending business and in accordance with applicable law, at any time and from time to time, with the consent of the Issuing Lenders (which consent shall not be unreasonably withheld or delayed) assign to one any Lender or more Eligible Assignees any Affiliate thereof or, with the consent of the Borrower, the Administrative Agent and the Issuing Lenders (which consent of the Borrower, the Administrative Agent and the Issuing Lenders shall not be unreasonably withheld or delayed and which consent shall not be required from the Borrower during the continuation of an Event of Default and shall be deemed given if the Borrower has not objected thereto within fifteen Business Days of notice thereof), to an additional bank or financial institution (an “Assignee”) all or any portion part of its rights and obligations under this Agreement and the other Loan Documents pursuant to an Assignment and Assumption, substantially in the form of Exhibit E (includingan “Assignment and Assumption”), without limitationexecuted by such Assignee, all or a portion of its Commitments, the Advances owing to it, the Notes held by itsuch assigning Lender, and (to the participation interest extent required by this paragraph) the Administrative Agent and the Issuing Lender (and, in the Letter case of Credit Obligations held by it); provided, however, an Assignee that (i) each such assignment shall be of is not then a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be Lender or an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess Affiliate thereof, (iiiby the Borrower) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver delivered to the Administrative Agent, Agent for its acceptance and recording in the Register, provided that, in the case of any such assignment to an Assignment and Acceptanceadditional bank or financial institution, together with (i) the Notes subject to such assignment, and sum (vwithout duplication) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or aggregate principal amount of the Commitments and Exposure being assigned shall not be less than $10,000,000 (or, if such Assignee is an Affiliate of a Lender, $5,000,000, or such lesser amount as may be agreed to by the Borrower and the Administrative Agent) and (ii) (x) the sum (without duplication) of the aggregate principal amount of the Commitments and Exposure retained by the assigning Lender, if any, shall pay not be less than $10,000,000 (or such lesser amount as may be agreed to by the Borrower and the Administrative Agent) or (y) after giving effect to such assignment, the assigning Lender shall hold no Loans or Commitments. For the avoidance of doubt, no Lender may at any time assign or transfer all or any part of its rights and obligations under this Agreement and the other Loan Documents to any natural person or to the Administrative Agent a $3,500 administrative feeBorrower or any Affiliate of the Borrower. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each determined pursuant to such Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereofAssumption, (Ax) the assignee Assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to provided in such Assignment and AcceptanceAssumption, have the rights and obligations of a Lender hereunder with a Commitment as set forth therein, and (By) such the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to provided in such Assignment and AcceptanceAssumption, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance Assumption covering all or the remaining portion of such an assigning Lender’s rights and obligations under this Agreement, such assigning Lender shall cease to be a party hereto), but shall retain its rights pursuant to Sections 2.13, 2.14 and 2.15 in respect of the period prior to such effective date. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 9.6(c) shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (b) of this Section.

Appears in 4 contracts

Samples: Credit Agreement (Southern California Edison Co), Credit Agreement (Southern California Edison Co), Credit Agreement

Assignments. Any Lender may may, in the ordinary course of its commercial lending business and in accordance with applicable law, at any time and from time to time, assign to one any Lender or more Eligible Assignees any Affiliate thereof or, with the consent of the Borrower and the Administrative Agent (which consent of the Borrower and the Administrative Agent shall not be unreasonably withheld or delayed and which consent shall not be required from the Borrower during the continuation of an Event of Default and shall be deemed given if the Borrower has not objected thereto within fifteen Business Days of notice thereof), to an additional bank or financial institution (an “Assignee”) all or any portion part of its rights and obligations under this Agreement and the other Loan Documents pursuant to an Assignment and Assumption, substantially in the form of Exhibit E (includingan “Assignment and Assumption”), without limitationexecuted by such Assignee, all or a portion of its Commitments, the Advances owing to it, the Notes held by itsuch assigning Lender, and (to the participation interest extent required by this paragraph) the Administrative Agent (and, in the Letter case of Credit Obligations held by it); provided, however, an Assignee that (i) each such assignment shall be of is not then a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be Lender or an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess Affiliate thereof, (iiiby the Borrower) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver delivered to the Administrative Agent, Agent for its acceptance and recording in the Register, provided that, in the case of any such assignment to an Assignment and Acceptanceadditional bank or financial institution, together with (i) the Notes subject to such assignment, and sum (vwithout duplication) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or aggregate principal amount of the Commitments and Exposure being assigned shall not be less than $10,000,000 (or, if such Assignee is an Affiliate of a Lender, $5,000,000, or such lesser amount as may be agreed to by the Borrower and the Administrative Agent) and (ii) (x) the sum (without duplication) of the aggregate principal amount of the Commitments and Exposure retained by the assigning Lender, if any, shall pay not be less than $10,000,000 (or such lesser amount as may be agreed to by the Borrower and the Administrative Agent) or (y) after giving effect to such assignment, the assigning Lender shall hold no Loans or Commitments. For the avoidance of doubt, no Lender may at any time assign or transfer all or any part of its rights and obligations under this Agreement and the other Loan Documents to any natural person (or holding company, investment vehicle or trust for, or owned and operated for the primary benefit of a natural person), to any Defaulting Lender or to the Administrative Agent a $3,500 administrative feeBorrower or any Affiliate of the Borrower. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each determined pursuant to such Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereofAssumption, (Ax) the assignee Assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to provided in such Assignment and AcceptanceAssumption, have the rights and obligations of a Lender hereunder with a Commitment as set forth therein, and (By) such the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to provided in such Assignment and AcceptanceAssumption, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance Assumption covering all or the remaining portion of such an assigning Lender’s rights and obligations under this Agreement, such assigning Lender shall cease to be a party hereto), but shall retain its rights pursuant to Sections 2.13, 2.14 and 2.15 in respect of the period prior to such effective date. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 9.6(c) shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (b) of this Section.

Appears in 3 contracts

Samples: Term Loan Credit Agreement (Southern California Edison Co), Term Loan Credit Agreement (Southern California Edison Co), Term Loan Credit Agreement (Edison International)

Assignments. (i) Any Lender may assign to one or more Eligible Assignees all or any a portion of its rights and obligations under this Agreement (including, without limitation, including all or a portion of its CommitmentsCommitment and the Loans (including in all instances for purposes of this subsection (i), participations in L/C Obligations) at the Advances time owing to it); provided that (A) except in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at the time owing to it or in the case of an assignment to a Lender or an Affiliate of a Lender, the Notes held by itaggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder, including as noted above, participations in L/C Obligations) subject to each such assignment, determined as of the date the Lender Assignment with respect to such assignment is delivered to the Administrative Agent, shall not be less than $5,000,000 unless each of the Administrative Agent and, so long as no Default has occurred and the participation interest is continuing and so long as in the Letter case of Credit Obligations held by itBank of Montreal, such Lender shall have been reduced to its “final hold amount” as described in the commitment letter referred to in the Agent and Arranger Fee Letter, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed); provided, however, that (iB) each such partial assignment shall be made as an assignment of a constant, and not a varying, percentage proportionate part of such all the assigning Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both the Loans or the Commitment assigned, except that this clause (B) shall not prohibit any Lender from assigning all or a portion of its rights and obligations owing in respect of the Commitments and the related Advances and Letters of Creditamong separate Borrowings on a non-pro rata basis, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (ivC) the parties to each such assignment shall execute and deliver to the Administrative AgentAgent a Lender Assignment, for its together with a processing and recordation fee of $3,500. Subject to acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of thereof by the Administrative Agent or an Affiliate pursuant to subsection (ii) of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recordingthis Section, from and after the effective date specified in each Assignment and AcceptanceLender Assignment, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee Eligible Assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and AcceptanceLender Assignment, have the rights and obligations of a Lender hereunder under this Agreement, and (B) such the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been of the interest assigned by it pursuant to such Assignment and AcceptanceLender Assignment, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Lender Assignment and Acceptance covering all or of the remaining portion of such assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party heretohereto but shall continue to be entitled to the benefits of Sections 3.7, 10.4 and 10.5). Upon request, the Borrower (at its expense) shall execute and deliver new or replacement Notes to the assigning Lender and the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 10.7(c) of this Section.

Appears in 3 contracts

Samples: Credit Agreement (Comstock Resources Inc), Credit Agreement (Comstock Oil & Gas, LP), Credit Agreement (Comstock Resources Inc)

Assignments. Any Each Lender may assign to one or more Eligible Assignees all or any a portion of its rights and obligations under this Credit Agreement (including, without limitation, all or a portion of its CommitmentsLoans, the Advances owing to it, the Notes held by itits Notes, and the participation interest in the Letter of Credit Obligations held by itits Commitment); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) that: each such assignment shall be to an Eligible Assignee; each of (A) the Administrative Agent and (B) the Issuing Lenders, shall have provided their written consent (ivnot to be unreasonably withheld); DRI shall have provided its written consent (not to be unreasonably withheld) which consent shall not be required during the existence of a Default or Event of Default; any such partial assignment shall be in an amount at least equal to $5,000,000 (or, if less, the remaining amount of the Commitment being assigned by such Lender) or an integral multiple of $5,000,000 in excess thereof; each such assignment by a Lender shall be of a constant, and not varying, percentage of all of its rights and obligations under this Credit Agreement and the Notes; and the parties to each such assignment shall execute and deliver to the Administrative Agent, Agent for its acceptance and recording in the Register, an Assignment and AcceptanceAgreement in substantially the form of Exhibit 12.3, together with a processing fee from the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee assignor of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee4,000. Upon such execution, delivery, and acceptance and recordingof such Assignment Agreement, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to of such Assignment and Acceptanceassignment, have the rights obligations, rights, and obligations benefits of a Lender hereunder and (B) such the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to of such Assignment and Acceptanceassignment, relinquish its rights and be released from its obligations under this Agreement Credit Agreement. Upon the consummation of any assignment pursuant to this Section 12.3(b), the assignor, the Administrative Agent and the relevant Borrower shall make appropriate arrangements so that, if required, new Notes are issued to the assignee. If the assignee is not incorporated under the laws of the United States of America or a State thereof, it shall deliver to such Borrower and the Administrative Agent certification as to exemption from deduction or withholding of taxes in accordance with Section 4.4. By executing and delivering an assignment agreement in accordance with this Section 12.3(b), the assigning Lender thereunder and the assignee thereunder shall be deemed to confirm to and agree with each other and the other parties hereto as follows: (andA) such assigning Lender warrants that it is the legal and beneficial owner of the interest being assigned thereby free and clear of any adverse claim and the assignee warrants that it is an Eligible Assignee; (B) except as set forth in clause (A) above, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Credit Agreement, any of the case of an Assignment and Acceptance covering all other Credit Documents or any other instrument or document furnished pursuant hereto or thereto, or the remaining portion execution, legality, validity, enforceability, genuineness, sufficiency or value of this Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto or the financial condition of a Borrower or the performance or observance by such Lender’s rights and Borrower of any of its obligations under this Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto; (C) such assignee represents and warrants that it is legally authorized to enter into such assignment agreement; (D) such assignee confirms that it has received a copy of this Credit Agreement, the other Credit Documents and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such assignment agreement; (E) such assignee will independently and without reliance upon the Administrative Agent, such assigning Lender or any other Lender, and based on such documents and information as it shall cease deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Credit Agreement and the other Credit Documents; (F) such assignee appoints and authorizes the Administrative Agent to take such action on its behalf and to exercise such powers under this Credit Agreement or any other Credit Document as are delegated to the Administrative Agent by the terms hereof or thereof, together with such powers as are reasonably incidental thereto; and (G) such assignee agrees that it will perform in accordance with their terms all the obligations which by the terms of this Credit Agreement and the other Credit Documents are required to be performed by it as a party hereto)Lender. For avoidance of doubt, the parties to this Credit Agreement acknowledge that the provisions of this Section 12.3 concerning assignments relate only to absolute assignments and that such provisions do not prohibit assignments creating security interests, including any pledge or assignment by a Lender to any Federal Reserve Bank in accordance with applicable law.

Appears in 3 contracts

Samples: Credit Agreement (Consolidated Natural Gas Co/Va), Credit Agreement (Dominion Resources Inc /Va/), Credit Agreement (Virginia Electric & Power Co)

Assignments. Any Lender Bank may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its CommitmentsCommitment, the Advances owing to it, the any Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of all of such LenderBank’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect involve a ratable assignment of the Commitments and the related such Bank’s Commitment, such Bank’s Advances and Letters such Bank’s participation in Letter of CreditCredit Exposure, (ii) the amount of the Commitments resulting Commitment and Advances of such Lender being assigned the assigning Bank (unless it is assigning all its Commitment) and the assignee Bank pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not in no event be less than $5,000,000 10,000,000 and shall be an integral multiple of $1,000,000 in excess thereof1,000,000, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, (v) the consent of the Administrative Agent shall be required, which consent shall not be unreasonably withheld or delayed, except with respect to assignments to other Banks or an Affiliate of the assigning Bank, (vi) no such assignments shall be made to any Defaulting Lender, Potential Defaulting Lender, the Borrower or its Affiliates or any of their respective subsidiaries, any natural Person, or any Person who, upon becoming a Bank hereunder, would constitute any of the foregoing Persons described in this clause, and (vvii) each Eligible Assignee (other than the an Eligible Assignee of the Administrative Agent or which is an Affiliate of a Lenderthe assigning Bank) shall pay to the Administrative Agent a $3,500 administrative fee; provided, however, that the Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender Bank hereunder and (B) such Lender Bank thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such LenderBank’s rights and obligations under this Agreement, such Lender Bank shall cease to be a party hereto). Notwithstanding anything herein to the contrary, any Bank may assign, as collateral or otherwise, any of its rights under the Credit Documents, including to any Federal Reserve Bank or other central bank, and this Section shall not apply to any such assignment. In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment will be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Administrative Agent and, unless a Default has occurred and is continuing, the Borrower, which consent shall not be unreasonably withheld or delayed, the applicable pro rata share of Advances previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent, each Issuing Bank and each other Bank hereunder (and interest accrued thereon), and (y) acquire (and fund as appropriate) its full pro rata share of all Advances and participants in Letters of Credit. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder becomes effective under applicable law without compliance with the provisions of this paragraph, then the assignee of such interest will be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.

Appears in 3 contracts

Samples: Senior Unsecured Credit Agreement (LaSalle Hotel Properties), Senior Unsecured Credit Agreement (LaSalle Hotel Properties), Senior Unsecured Credit Agreement (LaSalle Hotel Properties)

Assignments. Any Lender may Each Bank may, at its own expense, from time to time, assign to one or more Eligible Assignees other financial institutions all or any portion part of its rights and obligations under this Agreement (includingincluding without limitation the Indebtedness evidenced by the Notes then owned by such assigning Bank, without limitationtogether with an equivalent proportion of its obligation to make loans and advances) pursuant to written agreements executed by such assigning Bank, all such assignee lender or a lenders, the Company and the Agent, which agreements shall specify in each instance the portion of its Commitments, the Advances owing to it, Indebtedness evidenced by the Notes held by it, which is to be assigned to each such assignee lender and the participation interest in portion of the Letter Commitments of Credit Obligations held the assigning Bank to be assumed by itit (the “Assignment Agreements”); provided, however, that unless the Agent, the Company, the assignor Bank and the assignee lender, in writing, agree to the contrary, (i) each such except in connection with any assignment shall be by a Bank to any of a constantits Affiliates, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the aggregate amount of the Commitments and Advances Exposure of such Lender the assigning Bank being assigned to such assignee lender pursuant to each such assignment (determined as of the effective date of the relevant Assignment and Acceptance with respect to such assignmentAgreement) shall be, if to an entity other than a Lender, not in no event be less than the lesser of $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, or the assignor Bank’s unused Revolving Credit Commitment; (iii) each such assignment shall be to an Eligible Assignee, (ivii) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the RegisterRegister pursuant to Section 11.20 hereof, an Assignment and AcceptanceAgreement, together with the any Notes subject to such assignment, (iii) the Agent and (vexcept for an assignment made during the continuance of any Event of Default) the Company must consent to each Eligible Assignee such Assignment Agreement, which consents shall not be unreasonably withheld, to each such assignment to (other than the Eligible Assignee provided no such consent is required for any assignment to any Affiliate of the Administrative Agent or an Affiliate assigning Bank), and (iv) except in connection with any assignment by a Bank to any of a Lender) shall its Affiliates, the assignee lender must pay to the Administrative Agent a processing and recordation fee of $3,500 administrative fee4,000 and any out-of-pocket attorneys’ fees incurred by the Agent in connection with such Assignment Agreement. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in execution of each Assignment Agreement by the assigning Bank thereunder, the assignee lender thereunder, the Company and Acceptancethe Agent, which effective date shall be at least three Business Days after satisfaction of all of the execution thereofconditions set forth above and payment to such assigning Bank by such assignee lender of the purchase price for the portion of the Exposure being acquired by it, (Ai) the such assignee thereunder lender shall be thereupon become a party hereto “Bank” for all purposes andof this Agreement with an Exposure in the amounts set forth in such Assignment Agreement and with all the rights, powers and obligations afforded a Bank hereunder, (ii) such assigning Bank shall have no further liability for funding the portion of any of its Commitments assumed by such other Bank, and (iii) the address for notices to such assignee Bank shall be as specified in the Assignment Agreement executed by it. Concurrently with the execution and delivery of such Assignment Agreement executed by it, the Company shall execute and deliver new Notes to the extent that rights assignee Bank in the amount of its applicable Commitment or Loan and obligations hereunder have been assigned new Notes to it the assigning Bank in the amounts of its applicable Commitment or Loan after giving effect to the reduction occasioned by such assignment, such new Notes to constitute “Notes” for all purposes of this Agreement. Notwithstanding the foregoing, in no event may any assignment be made pursuant to such Assignment and Acceptance, have this Section 11.17(a) to any entity which is not a financial institution without the rights and obligations express prior written consent of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto)Company.

Appears in 3 contracts

Samples: Credit Agreement (Empire District Electric Co), Credit Agreement (Empire District Electric Co), Credit Agreement (Empire District Electric Co)

Assignments. Any Lender may with the prior written consent of the Agent and the Borrower (which consent in each case, shall not be unreasonably withheld) at any time assign to one or more Eligible Assignees (each an “Assignee”) all or any a portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it)Notes; provided, however, that (i) each no such consent by the Borrower shall be required (x) if a Default or Event of Default shall exist or (y) in the case of an assignment to another Lender or an Affiliate of another Lender; (ii) any partial assignment shall be in an amount at least equal to $10,000,000 and after giving effect to such assignment the assigning Lender retains a Commitment, or if the Commitments have been terminated, holds Notes having an aggregate outstanding principal balance, of a constantat least $10,000,000, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, effected by means of an Assignment and Acceptance, together with the Notes subject Assumption Agreement. Upon execution and delivery of such instrument and payment by such Assignee to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee transferor Lender of the Administrative Agent or an Affiliate of a Lender) shall pay amount equal to the Administrative Agent a $3,500 administrative fee. Upon purchase price agreed between such executiontransferor Lender and such Assignee, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date such Assignee shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall deemed to be a Lender party hereto for to this Agreement and shall have all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shallwith a Revolving Commitment and/or Term Loans, to as the extent that rights and obligations hereunder have been assigned by it pursuant to case may be, as set forth in such Assignment and AcceptanceAssumption Agreement, relinquish its rights and the transferor Lender shall be released from its obligations under this Agreement (andhereunder to a corresponding extent, in the case of an Assignment and Acceptance covering all no further consent or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender action by any party shall cease to be a party hereto).be

Appears in 2 contracts

Samples: Credit Agreement (Regency Centers Lp), Credit Agreement (Regency Centers Corp)

Assignments. Any Lender Each Bank may assign to one or more Eligible Assignees all or any a portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its CommitmentsLoans, the Advances owing to it, the Notes held by itits Notes, and the participation interest in the Letter of Credit Obligations held by itits Commitment); provided, however, that (i) that: each such assignment shall be to an Eligible Assignee; except in the case of an assignment to another Bank or an Affiliate of such Bank or an assignment of all of a constant, and not a varying, percentage of such Lender’s Bank's rights and obligations assigned under this Agreement and Agreement, any such partial assignment shall be in an amount at least equal percentage with respect to both its obligations owing in respect of $5,000,000 (or, if less, the Commitments and the related Advances and Letters of Credit, (ii) the remaining amount of the Commitments and Advances of such Lender Commitment being assigned pursuant to each by such assignment (determined as of the date of the Assignment Bank) and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) ; each such assignment by a Bank shall be to an Eligible Assigneeof a constant, (iv) and not varying, percentage of all of its rights and obligations under this Agreement and the Notes; and the parties to each such assignment shall execute and deliver to the Administrative Agent, Agent for its acceptance and recording in a processing fee from the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee assignor of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee3,500. Upon such execution, delivery, and acceptance and recordingof such assignment, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to of such Assignment and Acceptanceassignment, have the rights obligations, rights, and obligations benefits of a Lender Bank hereunder and (B) such Lender thereunder the assigning Bank shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to of such Assignment and Acceptanceassignment, relinquish its rights and be released from its obligations under this Agreement. Upon the consummation of any assignment pursuant to this section 9.11(a), the assignor, the Agent and the Company shall make appropriate arrangements so that, if required, new Notes are issued to the assignor and the assignee. Participations. Each Bank may sell participations to one or more Persons in all or a portion of its rights, obligations or rights and obligations under this Agreement (and, in the case of an Assignment and Acceptance covering including all or the remaining a portion of its Commitment, its Notes and its Loans); provided, however, that (i) such Lender’s Bank's obligations under this Agreement shall remain unchanged, (ii) such Bank shall remain solely responsible to the other parties hereto for the performance of such obligations, (iii) the participant shall be entitled to the benefit of the yield protection provisions contained in Article II, inclusive, and the right of set-off contained in section 2.20, and (iv) the Company shall continue to deal solely and directly with such Bank in connection with such Bank's rights and obligations under this Agreement, and such Lender Bank shall cease retain the sole right to be a party heretoenforce the obligations of the Company relating to its Loans and its Notes and to approve any amendment, modification, or waiver of any provision of this Agreement (other than amendments, modifications, or waivers decreasing the amount of principal of or the rate at which interest is payable on such Loans or Notes, extending any scheduled principal payment date or date fixed for the payment of interest on such Loans or Notes, or extending its Commitment).

Appears in 2 contracts

Samples: Corporate Guaranty Agreement (Oshkosh B Gosh Inc), Credit Agreement and Assignment and Acceptance Agreement (Oshkosh B Gosh Inc)

Assignments. Any In addition to the assignments permitted by Section 11.3(a), each Lender may may, with the prior written consent of the Borrower and the Administrative Agent (provided that no consent of the Borrower shall be required during the existence and continuation of an Event of Default), which consent shall not be unreasonably withheld or delayed, assign to one or more Eligible Assignees all or any a portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing hereunder pursuant to it, the Notes held by it, and the participation interest an assignment agreement substantially in the Letter form of Credit Obligations held by it)Exhibit 11.3 to one or more Eligible Assignees; provided, however, provided that (i) any such assignment shall be in a minimum aggregate amount of $10,000,000 of the Commitments and in integral multiples of $1,000,000 above such amount (or the remaining amount of Commitments held by such Lender), (ii) each such assignment shall be of a constant, and not a varying, percentage of such all of the assigning Lender’s 's rights and obligations assigned under this Agreement and the Commitment being assigned. Any assignment hereunder (including, but not limited to, any assignment by a Lender to another Lender) shall be an equal percentage with respect to both its obligations owing in respect effective upon satisfaction of the Commitments conditions set forth above and delivery to the related Advances and Letters Administrative Agent of Credita duly executed assignment agreement, (ii) in substantially the amount form of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance Exhibit 11.3, together with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple transfer fee of $1,000,000 in excess thereof3,500 payable to the Administrative Agent for its own account, (iii) each such assignment made as a result of a demand by the Borrower pursuant to Section 11.3(d) shall be to arranged by the Borrower after consultation with the Agents and shall be either an Eligible Assigneeassignment of all of the rights and obligations of the assigning Lender under this Credit Agreement or an assignment of a portion of such rights and obligations made concurrently with another such assignment or other such assignments that together cover all of the rights and obligations of the assigning Lender under this Credit Agreement or an assignment of a portion of such rights and obligations made concurrently with another such assignment or other such assignments that together cover all of the rights and obligations of the assigning Lender under this Credit Agreement, (iv) the parties no Lender shall be obligated to each make any such assignment as a result of a demand by the Borrower pursuant to Section 11.3(d) unless and until such Lender shall execute and deliver have received one or more payments from either the Borrower or one or more Eligible Assignees in an aggregate amount at least equal to the Administrative Agent, for its acceptance and recording in aggregate outstanding principal amount of the Register, an Assignment and AcceptanceRevolving Loans owing to such Lender, together with accrued interest thereon, to the Notes subject date of payment of such principal amount and all other amounts payable to such assignment, lender under this Credit Agreement and (v) each Eligible Assignee (the Borrower shall be entitled to withhold its consent if an assignment would result in greater payments under Sections 3.9, 3.11, or 3.13. Upon the effectiveness of any such assignment, the assignee shall become a "Lender" for all purposes of this Credit Agreement and the other than Credit Documents and, to the Eligible Assignee extent of such assignment, the assigning Lender shall be relieved of its obligations hereunder to the extent of the Administrative Agent Loans and Commitment components being assigned. Along such lines the Borrower agrees that upon notice of any such assignment and surrender of the appropriate Note or an Affiliate of a Lender) shall pay Notes, it will promptly provide to the Administrative Agent a $3,500 administrative feeassigning Lender and to the assignee separate promissory notes in the amount of their respective interests substantially in the form of the original Note or Notes (but with notation thereon that it is given in substitution for and replacement of the original Note or Notes or any replacement notes thereof). Upon such executionBy executing and delivering an assignment agreement in accordance with this Section 11.3(b), delivery, acceptance the assigning Lender thereunder and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party deemed to confirm to and agree with each other and the other parties hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and as follows: (Bi) such assigning Lender thereunder shallwarrants that it is the legal and beneficial owner of the interest being assigned thereby free and clear of any adverse claim and the assignee warrants that it is an Eligible Assignee; (ii) except as set forth in clause (i) above, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Credit Agreement, any of the extent that rights and obligations hereunder have been assigned other Credit Documents or any other instrument or document furnished pursuant hereto or thereto, or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto or the financial condition of any Credit Party or the performance or observance by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from any Credit Party of any of its obligations under this Agreement Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto; (andiii) such assignee represents and warrants that it is legally authorized to enter into such assignment agreement; (iv) such assignee confirms that it has received a copy of this Credit Agreement, the other Credit Documents and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such assignment agreement; (v) such assignee will independently and without reliance upon the Agents, such assigning Lender or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in the case of an Assignment and Acceptance covering all taking or the remaining portion of such Lender’s rights and obligations not taking action under this AgreementCredit Agreement and the other Credit Documents; (vi) such assignee appoints and authorizes the Agents to take such action on its behalf and to exercise such powers under this Credit Agreement or any other Credit Document as are delegated to the Agents by the terms hereof or thereof, together with such Lender shall cease powers as are reasonably incidental thereto; and (vii) such assignee agrees that it will perform in accordance with their terms all the obligations which by the terms of this Credit Agreement and the other Credit Documents are required to be performed by it as a party hereto)Lender.

Appears in 2 contracts

Samples: Credit Agreement (Covance Inc), Credit Agreement (Covance Inc)

Assignments. Any Each Lender may may, in the ordinary course of its business and in accordance with applicable law, assign to one or more Eligible Assignees all or any portion part of its rights and obligations under this Agreement the Financing Agreements (including, without limitation, all or a portion any part of its CommitmentsCommitment, the Advances Revolving Loan owing to it, the Notes held by it, it and the participation interest in the Letter of Credit Obligations Revolving Note held by it); provided, however, PROVIDED that (i) each except in the case of an assignment to a Person that, immediately prior to such assignment shall be assignment, was a Lender or an affiliate of a constant, and not Lender or an assignment of all of a varying, percentage of such Lender’s 's rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of CreditAgreement, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such any assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not in no event be less than $5,000,000 and shall be in an integral multiple of $1,000,000 if in excess thereof, (iiiii) each such assignment shall be to an Eligible Assignee, (iii) the written consent of the Agent shall be required prior to an assignment becoming effective with respect to an assignee that is not, immediately prior to such assignment, a Lender or an affiliate thereof and (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, Agent an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative feeits Revolving Note. Upon such execution, delivery, acceptance delivery and recordingacceptance, from and after the effective date specified in each such Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (Ax) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (By) such the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such an assigning Lender’s 's rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

Appears in 2 contracts

Samples: Loan and Security Agreement (Lois/Usa Inc), Loan and Security Agreement (Lois/Usa Inc)

Assignments. Any Lender may may, in the ordinary course of its commercial lending business and in accordance with applicable law, at any time and from time to time, assign to one any Lender or more Eligible Assignees any Affiliate or Approved Fund thereof or, with the consent of the Borrower, the Administrative Agent and the Issuing Lender (which consent of the Borrower, the Administrative Agent and the Issuing Lender shall not be unreasonably withheld or delayed and which consent shall not be required from the Borrower during the continuation of an Event of Default), to an additional bank or financial institution (an “Assignee”) all or any portion part of its rights and obligations under this Agreement and the other Loan Documents pursuant to an Assignment and Acceptance, substantially in the form of Exhibit E (includingan “Assignment and Acceptance”), without limitationexecuted by such Assignee, all or a portion of its Commitments, the Advances owing to it, the Notes held by itsuch assigning Lender, and (to the participation interest extent required by this paragraph) the Administrative Agent and the Issuing Lender (and, in the Letter case of Credit Obligations held by it); provided, however, an Assignee that (i) each such assignment shall be of is not then a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be Lender or an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess Affiliate thereof, (iiiby the Borrower) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver delivered to the Administrative Agent, Agent for its acceptance and recording in the Register, provided that, in the case of any such assignment to an Assignment additional bank or financial institution, (i) the sum (without duplication) of the aggregate principal amount of the Commitments and Acceptance, together with Exposure being assigned shall not be less than $5,000,000 (or such lesser amount as may be agreed to by the Notes subject to such assignment, Borrower and the Administrative Agent) and (vii) each Eligible Assignee the sum (other than the Eligible Assignee without duplication) of the Administrative Agent aggregate principal amount of the Commitments and Exposure retained by the assigning Lender, if any, shall not be less than $5,000,000 (or an Affiliate of a Lender) shall pay such lesser amount as may be agreed to by the Borrower and the Administrative Agent a $3,500 administrative feeAgent). Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each determined pursuant to such Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (Ax) the assignee Assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to provided in such Assignment and Acceptance, have the rights and obligations of a Lender hereunder with a Commitment as set forth therein, and (By) such the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to provided in such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such an assigning Lender’s rights and obligations under this Agreement, such assigning Lender shall cease to be a party hereto), but shall retain its rights pursuant to Sections 2.13, 2.14, 2.15 and 9.5 in respect of the period prior to such effective date.

Appears in 2 contracts

Samples: Credit Agreement (Edison International), Credit Agreement (Southern California Edison Co)

Assignments. Any Lender Bank may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s Bank's rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of CreditAgreement, (ii) the amount of the Commitments Commitments, Advances, and Advances participation interest in the Letter of Credit Obligations of such Lender Bank being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a LenderBank, not less than $5,000,000 5,000,000.00 and shall be an integral multiple of $1,000,000 in excess thereof1,000,000.00, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a LenderAgent) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender Bank hereunder and (B) such Lender Bank thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s Bank's rights and obligations under this Agreement, such Lender Bank shall cease to be a party hereto).

Appears in 2 contracts

Samples: Credit Agreement (Holly Energy Partners Lp), Credit Agreement (Holly Energy Partners Lp)

Assignments. Any Lender Bank may at any time assign to one or more Eligible Assignees all banks or any portion financial institutions (each an "Assignee") all, or a proportionate part of all, of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, and the Advances owing to it, the Notes held by itNotes, and such Assignee shall assume all such rights and obligations, pursuant to an Assignment and Acceptance, executed by such Assignee, such transferor Bank and the participation interest Agent (and, in the Letter case of Credit Obligations held an Assignee that is not then a Bank, by itthe Borrower); provided, however, provided that (i) each such assignment no interest may be sold by a Bank pursuant to this Section unless the Assignee shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect agree to both its obligations owing in respect assume ratably equivalent portions of the Commitments and the related Advances and Letters of Credittransferor Bank's Commitment, (ii) the amount of the Commitments and Advances Commitment of such Lender being assigned pursuant the transferor Bank subject to each such assignment (determined as of the effective date of the assignment) shall be equal to at least Five Million Dollars ($5,000,000), (iii) no interest may be sold by a Bank pursuant to this Section to any Assignee that is not then a Bank or an Affiliate of a Bank without the consent of the Borrower and the Agent (which consent shall not be unreason ably withheld), except after the occurrence of, and during the continuance of, an Event of Default, and (iv) during the term of this Agreement, a Bank may not have more than two Assignees that are not then Banks at any one time. Upon (A) execution of the Assignment and Acceptance with respect by such transferor Bank, such Assignee, the Agent and (if applicable) the Borrower, (B) delivery of an executed copy of the Assignment and Acceptance of the Borrower and the Agent, (C) payment by such Assignee to such assignment) shall be, if to transferor Bank of an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver amount equal to the Administrative Agent, for its acceptance purchase price agreed between such transferor Bank and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignmentAssignee, and (vD) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate payment of a Lenderprocessing and recordation fee of Two Thousand Five Hundred Dollars ($2,500) shall pay to the Administrative Agent a $3,500 administrative fee. Upon Agent, such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date Assignee shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, be a Bank party to the extent that rights this Agreement and obligations hereunder shall have been assigned to it pursuant to such Assignment and Acceptance, have all the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, Bank under this Agreement to the same extent that rights as if it were an original party hereto with a Commitment as set forth in such instrument of assumption, and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and the transferor Bank shall be released from its future obligations under this Agreement (andhereunder to a corresponding extent, in and no further consent or action by the case of an Assignment and Acceptance covering all Borrower, the Banks or the remaining portion Agent shall be required. Upon the consummation of any transfer to an Assignee pursuant to this Section 9.8.3, the transferor Bank, the Agent and the Borrower shall make appropriate arrangements so that, if required, a new Note is issued to such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto)Assignee.

Appears in 2 contracts

Samples: Credit Agreement (Apple South Inc), Credit Agreement (Apple South Inc)

Assignments. Any Lender Bank may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of all of such Lender’s Bank's rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of CreditAgreement, (ii) the amount of the Commitments and Advances of such Lender Bank being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a LenderBank, not less than $5,000,000 5,000,000.00 and shall be an integral multiple of $1,000,000 in excess thereof1,000,000.00, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a LenderAgent) shall pay to the Administrative Agent a $3,500 2,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender Bank hereunder and (B) such Lender Bank thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s Bank's rights and obligations under this Agreement, such Lender Bank shall cease to be a party hereto).

Appears in 2 contracts

Samples: Credit Agreement (Stone Energy Corp), Credit Agreement (Stone Energy Corp)

Assignments. Any Each Lender may assign from time to one or more Eligible Assignees all or any portion time assign, subject to the terms of an Assignment and Acceptance Agreement, its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from delegate its obligations under this Agreement to another Person, provided that (andi) other than any assignment to by a Lender to an Affiliate of such Lender or a Related Fund in accordance with subsection 8.1(E) or to one or more other Lenders, such Lender shall first obtain the written consent of Administrative Agent, which consent shall not be unreasonably withheld; (ii) the Pro Rata Share of the Term Loans being assigned shall in no event be less than the lesser of (a) $1,000,000 and (b) the entire amount of the Pro Rata Share of the Term Loans of the assigning Lender; and (iii) upon the consummation of each such assignment (other than any assignment to by a Lender to an Affiliate of such Lender or a Related Fund in accordance with subsection 8.1(E) or to one or more other Lenders), the assigning Lender shall pay Administrative Agent an administrative fee of $3,500. The administrative fee referred to in clause (iii) of the preceding sentence shall not apply to an assignment described in paragraph (E) below. In the case of an Assignment and Acceptance covering all or assignment authorized under this subsection 8.1, the remaining portion assignee shall have, to the extent of such Lender’s rights assignment, the same rights, benefits and obligations under this Agreement, such as it would if it were an initial Lender hereunder. The assigning Lender shall cease be relieved of its obligations hereunder with respect to its Pro Rata Share of the Term Loans or assigned portion thereof. Borrower hereby acknowledges and agrees that any assignment will give rise to a direct obligation of Borrower to the assignee and that the assignee shall be considered to be a party hereto)Lender hereunder.

Appears in 2 contracts

Samples: Petition Credit Agreement (Portola Packaging Inc), Credit Agreement (Portola Packaging Inc)

Assignments. (a) Any Lender may at any time assign to one or more Eligible Assignees Persons (any such Person, an “Assignee”) all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights Loans and obligations assigned under this Agreement and shall be an equal percentage Commitments, with respect to both its obligations owing in respect the prior written consent of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, the Issuing Lender (for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee assignment of the Administrative Agent Revolving Loans and the Revolving Commitment) and, so long as no Event of Default exists, the Company (which consents shall not be unreasonably withheld or delayed and shall not be required for an assignment by a Lender to a Lender or an Affiliate of a Lender). Except as the Administrative Agent may otherwise agree, any such assignment shall be in a minimum aggregate amount equal to $5,000,000 or, if less, the remaining Commitment and Loans held by the assigning Lender. The Company and the Administrative Agent shall be entitled to continue to deal solely and directly with such Lender in connection with the interests so assigned to an Assignee until the Administrative Agent shall have received and accepted an effective assignment agreement in substantially the form of Exhibit D hereto (an “Assignment Agreement”) shall executed, delivered and fully completed by the applicable parties thereto and a processing fee of $3,500. No assignment may be made to any Person if at the time of such assignment the Company would be obligated to pay any greater amount under Section 7.6 or 8 to the Assignee than the Company is then obligated to pay to the Administrative Agent a $3,500 administrative feeassigning Lender under such Sections (and if any assignment is made in violation of the foregoing, the Company will not be required to pay such greater amounts). Upon such execution, delivery, acceptance and recording, from and after the effective date specified Any attempted assignment not made in each Assignment and Acceptance, which effective date accordance with this Section 15.6.1 shall be at least treated as the sale of a participation under Section 15.6.2. The Company shall be deemed to have granted its consent to any assignment requiring its consent hereunder unless the Company has expressly objected to such assignment within three Business Days after the execution notice thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

Appears in 2 contracts

Samples: Credit Agreement (World Fuel Services Corp), Credit Agreement (Ennis, Inc.)

Assignments. (a) Any Lender may at any time assign to one or more Eligible Assignees all or any a portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its CommitmentsLoan Agreement, the Advances owing to itother Loan Documents, the Notes held by it, and Collateral or the participation interest in the Letter of Credit Obligations held by it)Notes; provided, however, provided that (i) each such partial assignment shall be made as an assignment of a constant, and not a varying, percentage proportionate part of such all the assigning Lender’s 's rights and obligations assigned under this Loan Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments other Loan Documents; and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative AgentCollateral Agent an Assignment and Assumption Agreement in the form attached hereto as Exhibit F, for its together with a processing and recordation fee of $500.00. Subject to acceptance and recording in thereof by the Register, an Assignment and Acceptance, together with the Notes subject Collateral Agent pursuant to such assignment, and paragraph (vb) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recordingthis Section, from and after the effective date specified in each Assignment and AcceptanceAssumption, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee Eligible Assignee thereunder shall be a party hereto for all purposes to this Loan Agreement and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and AcceptanceAssumption, have the rights and obligations of a Lender hereunder under this Loan Agreement, and (B) such the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been of the interest assigned by it pursuant to such Assignment and AcceptanceAssumption, relinquish its rights and be released from its obligations under this Loan Agreement (and, in the case of an Assignment and Acceptance Assumption covering all or of the remaining portion of such assigning Lender’s 's rights and obligations under this Loan Agreement, such Lender shall cease to be a party hereto)) but shall continue to be entitled to the benefits of Section 12 with respect to facts and circumstances occurring prior to the effective date of such assignment. Any assignment or transfer by a Lender of rights or obligations under this Loan Agreement that does not comply with this paragraph shall be treated for purposes of this Loan Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 10.2.

Appears in 2 contracts

Samples: Loan Agreement (Wynn Resorts LTD), Loan Agreement (Wynn Las Vegas LLC)

Assignments. Any Lender Each Bank may assign to one or more Eligible Assignees all or any a portion of its rights and obligations under hereunder pursuant to this Agreement clause (includingb)(A) to (x) one or more Banks or any affiliates of any Bank or (y) one or more other Eligible Transferees, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, provided that (i) each any such assignment pursuant to clause (y) above shall be in the aggregate amount of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Creditat least $5,000,000, (ii) the amount of the Commitments and Advances of after giving effect to any such Lender being assigned assignment pursuant to each such assignment clause (determined as x) or (y) above, no Bank shall have a Commitment of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereofunless such Bank's Commitment is reduced to zero pursuant to such assignment, (iii) each such any assignment pursuant to clause (y), other than an assignment by an Initial Bank, shall require the consent of Resources, which consent shall not be to an Eligible Assigneeunreasonably withheld, (iv) an Initial Lender shall not assign any percentage of its rights and obligations hereunder without the parties to each such assignment shall execute other Initial Lender assigning the same percentage of its rights and deliver to the Administrative Agentobligations hereunder, for its acceptance and recording in the Registerprovided further, an Assignment and Acceptancethat, so long as no Loans, together with interest thereon, shall be outstanding and no Default or Event of Default shall have occurred and then be continuing, Resources may at its option terminate the Notes subject portion of such assigning Bank's Commitment proposed to be assigned pursuant to clause (y) above in lieu of consenting to such assignment, and the Total Commitment shall be reduced in the amount of such termination. Assignments or terminations of all or any portion of any Bank's Commitment pursuant to this clause (vb)(A) each Eligible Assignee (other than will only be effective if the Eligible Assignee of Agent shall have received a written notice from the Administrative Agent or an Affiliate assigning Bank and the assignee, or, in the case of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such executiontermination, deliveryResources, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all assignment (other than as assignment by an Initial Bank), payment of a nonrefundable assignment fee of $2,500 to the Agent by either the assigning Bank or the remaining assignee. No later than five Business Days after its receipt of any written notice of assignment or termination, the Agent will record such assignment or termination, and the resultant effects thereof on the Commitment of the assigning or terminating Bank and, in the case of an assignment, the assignee, in the Register, at which time such assignment or termination shall become effective, provided that the Agent shall not be required to, and shall not, so record any assignment or termination in the Register on or after the date on which any proposed amendment, modification or supplement in respect of this Agreement has been circulated to the Banks for approval until the earlier of (x) the effectiveness of such amendment, modification or supplement in accordance with Sec. 9.4 or (y) 30 days following the date on which such proposed amendment, modification or supplement was circulated to the Banks. Upon the effectiveness of any assignment or termination pursuant to this clause (b)(A), (x) the assignee, in the case of an assignment, will become a "Bank" for all purposes of this Agreement and the other Loan Documents with a Commitment as so recorded by the Agent in the Register, and to the extent of such assignment or termination, the assigning or terminating Bank shall be relieved of its obligations hereunder with respect to the portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto)its Commitment being assigned or terminated.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Pennsylvania Power & Light Co /Pa), Revolving Credit Agreement (Pp&l Resources Inc)

Assignments. Any 12.1 The Lender may shall have the right at any time to assign to one or more Eligible Assignees commercial banks, commercial finance lenders or other financial institutions all or any a portion of its rights and obligations under this Financing Agreement (including, without limitation, all or a portion of its Commitments, obligations under the Advances owing to it, the Notes held by it, Revolving Loans and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s its rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee). Upon such execution, delivery, acceptance execution of an assignment and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, transfer agreement (Aa) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptanceassignment, have the rights and obligations of a the Lender hereunder hereunder, and (Bb) such the Lender thereunder shall, to the extent that its rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptanceassignment, relinquish its rights and be released from its obligations under this Agreement Financing Agreement. The Borrower and the Guarantors shall, if necessary, execute any documents reasonably required to effectuate the assignments. It shall be a condition of any assignment by the Lender hereunder that (andi) the amount being assigned shall, if there is no Event of Default which is continuing, in no event be less than the case lesser of an Assignment and Acceptance covering all $10,000,000 or the remaining portion entire interest of the Lender hereunder, and the parties to such Lender’s rights assignment shall execute and obligations under this Agreement, such deliver to the Lender shall cease to be a party hereto)an assignment and transfer agreement.

Appears in 2 contracts

Samples: Financing Agreement (Western Forest Products Inc.), Financing Agreement (Western Forest Products Inc.)

Assignments. Any Lender may (i) Subject to Section 19.1(a)(ii) hereof and Section 5.2(b) of the Lessor Participation Agreement, Lessor may, without the consent of Lessee, assign to one or more Eligible Assignees transfer all or any portion part of its rights rights, obligations and obligations interest in, to and under this Agreement (including, without limitation, all or a portion of its CommitmentsLease, the Advances owing to itother Operative Documents, the Notes held by it, Items of Equipment and any other Lessee Collateral at any time (including prior to the participation interest in the Letter of Credit Obligations held by it)Delivery Date) to an Eligible Assignee; provided, however, that (iA) each such assignment shall comply with this Article XIX, (B) such assignment shall be evidenced by an Assignment Agreement, a copy of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and which shall be an equal percentage with respect furnished to both its obligations owing in respect of the Commitments Agent and the related Advances and Letters of CreditLessee, (iiC) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, except in the case of an Assignment assignment to an Affiliate of Lessor or of all of the Lessor's rights, obligations and Acceptance covering interest in the Operative Documents and the Lessee Collateral, the amount of the assignment permitted hereunder shall not be less than $5,000,000, (D) each assignment or transfer shall comply with all applicable securities laws, (E) the Lessor shall give notice of such assignment and the name of the assignee to Lessee and Agent; provided, further, that no such assignment shall be made if (1) in the reasonable opinion of Lessee, such assignment would cause Lessee to be required to cease reporting this Lease as an operating lease in Lessee's financial statements and (2) Lessee provides Agent written notice of such determination within five (5) days of Lessee's receipt of the notice described in clause (E) above. If Lessee has objected to a proposed assignee for the reason set forth in clause (1) above, Lessor may re-submit notice of such proposed assignee to Lessee at a later date and the reasonableness of Lessee's opinion in clause (1) shall be determined as of such later date. So long as no Lease Default or Lease Event of Default has occurred and is continuing, in the event Lessee objects in writing to the proposed assignee for any reason other than as set forth in clause (1) above within five (5) Business Days of receipt of the notice described in clause (E) above, Lessee shall have sixty (60) days from the date of receipt by Lessee of such notice to find a replacement assignee which shall be an Eligible Assignee and if no such replacement assignee is found within such sixty (60) day period, the Lessor may assign all or the remaining portion any part of such Lender’s rights its rights, obligations and obligations interest in, to and under this AgreementLease, the other Operative Documents, the Items of Equipment and any other Lessee Collateral as contemplated above to such Lender shall cease assignee identified in such notice delivered to be a party hereto)Lessee.

Appears in 2 contracts

Samples: Lease and Security Agreement (Lsi Logic Corp), Lease and Security Agreement (Lsi Logic Corp)

Assignments. Any Lender The provisions of this Agreement shall be binding upon and inure to the benefit of the Company and Linde and their respective successors and permitted assigns. This Agreement shall not be assignable by any of the parties hereto without the prior written consent of the other parties; provided, that Linde (i) may assign to one or more Eligible Assignees all or any portion of its rights and obligations duties under this Agreement to any other Linde Entity at any time, (includingii) at any time prior to the consummation of an Initial Public Offering, without limitationmay assign its rights and duties under this Agreement to any Person who acquires shares of Common Stock from any of the Linde Entities and (iii) at any time following the consummation of an Initial Public Offering, all may assign its rights and duties under this Agreement to a Person who acquires, in a transaction other than a Public Offering or a portion sale pursuant to Rule 144, at least fifty percent (50%) of its Commitmentsthe aggregate number of shares of Common Stock owned, directly or indirectly, by the Advances owing Linde Entities as of immediately prior to it, the Notes held by it, and the participation interest consummation of such transaction (any Person described in the Letter of Credit Obligations held by itforegoing clauses (i) through (iii), an “Assignee”); provided, howeverfurther, that (i) each no such assignment shall be binding upon or obligate the Company to any such Assignee unless and until such Assignee delivers to the Company (a) a written notice stating the name and address of such Assignee and identifying the shares of Common Stock owned by such Assignee and (b) a constantwritten instrument by which such Assignee agrees to be bound by the provisions of this Agreement applicable to the Linde Entities to the same extent as if such Assignee were a party hereto. Upon any assignment in accordance with this Section 3.10, the Assignee shall succeed to, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignmentsubstituted for, and (v) each Eligible Assignee (other than may exercise every right and power of, the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations assigning Linde Entity under this Agreement, such Lender shall cease to be a party hereto).

Appears in 2 contracts

Samples: Stockholders Agreement (Bellerophon Therapeutics, Inc.), Stockholders Agreement (Bellerophon Therapeutics LLC)

Assignments. Any Lender may Each Bank shall have the right, subject to the further provisions of this Sections 12.3, to sell or assign to one or more Eligible Assignees all or any portion part of its Commitments, Loans, Letter of Credit Obligations, Notes, and other rights and obligations under this Agreement and the other Loan Documents (includingsuch transfer, without limitationan "Assignment") to any commercial lender, all other financial institution or a other entity (an "Assignee"). Upon such Assignment becoming effective as provided in Section 12.3(b), the assigning Bank shall be relieved from the portion of its CommitmentsCommitment, the Advances owing to itits Swing Line Participation Amount, the Notes held by it, and the participation interest in the its Letter of Credit Obligations held Participation Amount, its obligations to indemnify the Agent and its other obligations hereunder to the extent assumed and undertaken by it); providedthe Assignee, howeverand to such extent the Assignee shall have assumed such portion of the assigning Bank's Commitment, that its Swing Line Participation Amount, its Letter of Credit Participation Amount and such other obligations hereunder and the Assignee shall have the rights of a "Bank" hereunder. Notwithstanding the foregoing, unless otherwise consented to by the Borrower and the Agent, each Assignment shall be in an amount not less than (i) each such assignment shall be the entire amount of a constantthe assigning Bank's Commitment and related rights and obligations, or (ii) $10,000,000 of the assigning Bank's Commitment and not a varying, percentage of such Lender’s related rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credithereunder, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be or an integral multiple of $1,000,000 in excess thereof, (iii) each if above such assignment amount. Each Assignment shall be to documented by an Eligible agreement among the assigning Bank, the Assignee, the Agent, and so long as no Default or Event of Default exists, the Borrower (ivan "Assignment and Assumption Agreement") the parties to each such assignment shall execute in form and deliver substance satisfactory to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

Appears in 2 contracts

Samples: Credit Agreement (Interra Financial Inc), Credit Agreement (Dain Rauscher Corp)

Assignments. Any Each Lender may assign to one or more Eligible Assignees all or any a portion of its rights and obligations under this Credit Agreement (including, without limitation, all or a portion of its CommitmentsLoans, the Advances owing to it, the Notes held by itits Notes, and the participation interest in the Letter of Credit Obligations held by itits Commitment); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) that: each such assignment shall be to an Eligible Assignee; except (A) in the case of an assignment to another Lender or to an Affiliate of a Lender, (ivB) in the case of an assignment of all of a Lender's rights and obligations under this Credit Agreement, or (C) with the consent of the Administrative Agent and DRI (such consent by DRI (i) not to be unreasonably withheld and (ii) not being required during the existence of a Default or Event of Default), any such partial assignment shall be in an amount at least equal to $10,000,000 (or, if less, the remaining amount of the Commitment being assigned by such Lender) or an integral multiple of $5,000,000 in excess thereof; each such assignment by a Lender shall be of a constant, and not varying, percentage of all of its rights and obligations under this Credit Agreement and the Notes; and the parties to each such assignment shall execute and deliver to the Administrative Agent, Agent for its acceptance and recording in the Register, an Assignment and AcceptanceAgreement in substantially the form of Exhibit 11.3, together with a processing fee from the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee assignor of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee4,000. Upon such execution, delivery, and acceptance and recordingof such Assignment Agreement, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to of such Assignment and Acceptanceassignment, have the rights obligations, rights, and obligations benefits of a Lender hereunder and (B) such the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to of such Assignment and Acceptanceassignment, relinquish its rights and be released from its obligations under this Agreement Credit Agreement. Upon the consummation of any assignment pursuant to this Section 11.3(b), the assignor, the Administrative Agent and the relevant Borrower shall make appropriate arrangements so that, if required, new Notes are issued to the assignee. If the assignee is not incorporated under the laws of the United States of America or a State thereof, it shall deliver to such Borrower and the Administrative Agent certification as to exemption from deduction or withholding of taxes in accordance with Section 4.4. By executing and delivering an assignment agreement in accordance with this Section 11.3(b), the assigning Lender thereunder and the assignee thereunder shall be deemed to confirm to and agree with each other and the other parties hereto as follows: (andA) such assigning Lender warrants that it is the legal and beneficial owner of the interest being assigned thereby free and clear of any adverse claim and the assignee warrants that it is an Eligible Assignee; (B) except as set forth in clause (A) above, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Credit Agreement, any of the case of an Assignment and Acceptance covering all other Credit Documents or any other instrument or document furnished pursuant hereto or thereto, or the remaining portion execution, legality, validity, enforceability, genuineness, sufficiency or value of this Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto or the financial condition of a Borrower or the performance or observance by such Lender’s rights and Borrower of any of its obligations under this Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto; (C) such assignee represents and warrants that it is legally authorized to enter into such assignment agreement; (D) such assignee confirms that it has received a copy of this Credit Agreement, the other Credit Documents and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such assignment agreement; (E) such assignee will independently and without reliance upon the Administrative Agent, such assigning Lender or any other Lender, and based on such documents and information as it shall cease deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Credit Agreement and the other Credit Documents; (F) such assignee appoints and authorizes the Administrative Agent to take such action on its behalf and to exercise such powers under this Credit Agreement or any other Credit Document as are delegated to the Administrative Agent by the terms hereof or thereof, together with such powers as are reasonably incidental thereto; and (G) such assignee agrees that it will perform in accordance with their terms all the obligations which by the terms of this Credit Agreement and the other Credit Documents are required to be performed by it as a party hereto)Lender. For avoidance of doubt, the parties to this Credit Agreement acknowledge that the provisions of this Section 11.3 concerning assignments relate only to absolute assignments and that such provisions do not prohibit assignments creating security interests, including any pledge or assignment by a Lender to any Federal Reserve Bank in accordance with applicable law.

Appears in 2 contracts

Samples: Day Credit Agreement (Dominion Resources Inc /Va/), Day Credit Agreement (Virginia Electric & Power Co)

Assignments. Any Lender The provisions of this Agreement shall be binding upon and inure to the benefit of the Company and the NMP Entities and their respective successors and permitted assigns. This Agreement shall not be assignable by any of the parties hereto without the prior written consent of the other parties; provided, that any of the NMP Entities (i) may assign to one or more Eligible Assignees all or any portion of its rights and obligations duties under this Agreement to any other NMP Entity at any time, (ii) at any time prior to the consummation of an Initial Public Offering, may assign its rights and duties under this Agreement to any Person who acquires shares of Common Stock from any of the NMP Entities and (iii) at any time following the consummation of an Initial Public Offering, may assign its rights and duties under this Agreement (includingother than Section 3.2) to a Person who acquires, without limitation, all in a transaction other than a Public Offering or a portion sale pursuant to Rule 144, at least fifty percent (50%) of its Commitmentsthe aggregate number of shares of Common Stock owned, directly or indirectly, by the Advances owing NMP Entities as of immediately prior to it, the Notes held by it, and the participation interest consummation of such transaction (any Person described in the Letter of Credit Obligations held by itforegoing clauses (i) through (iii), an “Assignee”); provided, howeverfurther, that (i) each no such assignment shall be binding upon or obligate the Company to any such Assignee unless and until such Assignee delivers to the Company (a) a written notice stating the name and address of such Assignee and identifying the shares of Common Stock owned by such Assignee and (b) a constantwritten instrument by which such Assignee agrees to be bound by the provisions of this Agreement applicable to the NMP Entities to the same extent as if such Assignee were a party hereto. Upon any assignment in accordance with this Section 4.10, the Assignee shall succeed to, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignmentsubstituted for, and (v) each Eligible Assignee (other than may exercise every right and power of, the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations assigning NMP Entity under this Agreement; provided, such Lender that no rights or duties of the NMP Entities under Section 3.2 of this Agreement shall cease be assignable or delegable to be a party hereto)any Person other than to an NMP Entity.

Appears in 2 contracts

Samples: Stockholders Agreement (Bellerophon Therapeutics, Inc.), Stockholders Agreement (Bellerophon Therapeutics LLC)

Assignments. Any Each Lender may assign to one or more Eligible Assignees all or any a portion of its rights and obligations under this Agreement (includinghereunder, without limitation, all or a portion of its Commitments, the Advances owing pursuant to it, the Notes held by it, and the participation interest an assignment agreement substantially in the Letter form of Credit Obligations held by itSchedule 10.3(b), to (i) any Lender or any Affiliate or Subsidiary of a Lender, or (ii) any other commercial bank, financial institution or "accredited investor" (as defined in Regulation D of the Securities and Exchange Commission) that, so long as no Default or Event of Default has occurred and is continuing, is reasonably acceptable to the Borrower; provided, however, provided that (i) any such assignment (other than any assignment to an existing Lender) shall be in a minimum aggregate amount of $5,000,000 (or, if less, the remaining amount of the Commitment being assigned by such Lender) of the Commitments and in integral multiples of $1,000,000 above such amount, (ii) so long as no Event of Default has occurred and is continuing, no Lender shall assign more than 50% of such Lender's original Revolving Commitment and (iii) each such assignment shall be of a constant, and not a varying, percentage of all such Lender’s 's rights and obligations assigned under this Agreement and Credit Agreement. Any assignment hereunder shall be an equal percentage with respect effective upon delivery to both its obligations owing in respect the Agent of written notice of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance together with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple transfer fee of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver 3,500 payable to the Administrative Agent, Agent for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, own account from and after the later of (i) the effective date specified in each Assignment the applicable assignment agreement and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (Aii) the assignee thereunder shall be a party hereto for all purposes anddate of recording of such assignment in the Register pursuant to the terms of subsection (c) below. The assigning Lender will give prompt notice to the Agent and the Borrower of any such assignment. Upon the effectiveness of any such assignment (and after notice to, and (to the extent that rights and obligations hereunder have been assigned to it required pursuant to such Assignment and Acceptancethe terms hereof), have with the rights and obligations of a Lender hereunder and (B) such Lender thereunder shallconsent of, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and AcceptanceBorrower as provided herein), relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender assignee shall cease to be a party hereto).become a

Appears in 2 contracts

Samples: Credit Agreement (Autozone Inc), Credit Agreement (Autozone Inc)

Assignments. Any Lender may assign to one or more Eligible Assignees all (a) All or any portion part of its rights and obligations the interest of any Rent Assignee in, to or under this Agreement (including, without limitation, all or a portion of its CommitmentsParticipation Agreement, the Advances owing other Operative Documents or the Leased Property may be assigned or transferred by such Rent Assignee at any time to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it)any Eligible Assignee; provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of all such Lender’s rights and obligations assigned under this the Rent Assignment Agreement and shall be an equal percentage with respect (if applicable to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, such Rent Assignee); (ii) unless both parties to the assignment are the Participants immediately prior to giving effect to the assignment, the amount of the Commitments and Advances Commitment of such Lender the assigning Rent Assignee being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not be less than $5,000,000 15,000,000.00 (or if less, the entire amount of such Participant’s Commitment) and shall be an integral multiple of $1,000,000 in excess thereof, 5,000,000.00 (or such Participant’s entire Commitment); (iii) each such assignment shall be to an Eligible Assignee, ; (iv) Lessor shall have received from the assignee/transferee or the assignor/transferor of a transfer fee in the amount of $1,000.00; (v) each assignee or transferee shall have complied, as of the date of the transfer, with the delivery requirements of Section 12.3(a); (vi) if the assignment occurs prior to the end of the Commitment Period, the assignor shall concurrently assign to the assignee that percentage of its Commitment set forth in Schedule II hereto; (vii) each assignee or transferee shall (A) acknowledge in writing, addressed and delivered to each of the parties to each this Participation Agreement, that the obligations to be performed by the assignor or transferor from and after the date of such transfer or assignment shall execute under this Participation Agreement and deliver all other Operative Documents are its obligations, including the obligations imposed by this Section 12.1(a), and (B) represent and warrant to Lessor, Guarantor, the Administrative Agent, for its acceptance each other Participant and recording Lessee in writing each of the representations and warranties as set forth in Section 8.1 and that it has the requisite power and authority to accept such assignment or transfer and engage in the RegisterOverall Transaction; (viii) the transferor and transferee Rent Assignee shall deliver to Lessee, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of Guarantor the Administrative Agent or and Lessor an Affiliate Assignment Agreement, in substantially the form of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such executionExhibit E, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) executed by the assignee thereunder shall be a party hereto for all purposes and, or transferee; and (ix) to the extent that rights and obligations hereunder required in the definition of “Eligible Assignee”, Lessee shall have been assigned provided its written consent (not to it pursuant to such Assignment and Acceptance, have be unreasonably withheld or delayed) which consent shall not be required during the rights and obligations existence of a Lender hereunder and (B) Default or Event of Default. Any transfer or assignment made in violation of the above requirements shall not be effective against the other parties to this Participation Agreement until such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto)requirements are satisfied.

Appears in 2 contracts

Samples: Participation Agreement (Norfolk Southern Corp), Participation Agreement

Assignments. Any Lender Bank may at any time assign to one or more Eligible Assignees all banks or any portion financial institutions (each an "Assignee") all, or a proportionate part of all, of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, and the Advances owing to it, the Notes held by itNotes, and such Assignee shall assume all such rights and obligations, pursuant to an Assignment and Acceptance, executed by such Assignee, such transferor Bank and the participation interest Administrative Agent (and, in the Letter case of Credit Obligations held an Assignee that is not then a Bank, by itthe Borrower); provided, however, provided that (i) each such assignment no interest may be sold by a Bank pursuant to this Section unless the Assignee shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect agree to both its obligations owing in respect assume ratably equivalent portions of the Commitments and the related Advances and Letters of Credittransferor Bank's Commitment, (ii) the amount of the Commitments and Advances Commitment of such Lender being assigned pursuant the transferor Bank subject to each such assignment (determined as of the effective date of the assignment), if less than the entirety of such Commitment, shall be equal to at least Five Million Dollars ($5,000,000), (iii) no interest may be sold by a Bank pursuant to this Section to any Assignee that is not then a Bank or an Affiliate of a Bank without the consent of the Borrower and the Administrative Agent (which consent shall not be unreasonably withheld), except after the occurrence of, and during the continuance of, an Event of Default. Upon (A) execution of the Assignment and Acceptance with respect to by such assignmenttransferor Bank, such Assignee, the Administrative Agent and (if applicable) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereofthe Borrower, (iiiB) each such assignment shall be to delivery of an Eligible Assignee, (iv) executed copy of the parties to each such assignment shall execute Assignment and deliver to Acceptance of the Borrower and the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject (C) payment by such Assignee to such assignmenttransferor Bank of an amount equal to the purchase price agreed between such transferor Bank and such Assignee, and (vD) each Eligible Assignee payment of a processing and recordation fee of Three Thousand Five Hundred Dollars (other than the Eligible Assignee of $3,500) to the Administrative Agent (which fee shall be reduced to One Thousand Five Hundred Dollars ($1,500) if the Assignee is an existing Bank or an Affiliate of a Lender) Bank, such Assignee shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, be a Bank party to the extent that rights this Agreement and obligations hereunder shall have been assigned to it pursuant to such Assignment and Acceptance, have all the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, Bank under this Agreement to the same extent that rights as if it were an original party hereto with a Commitment as set forth in such instrument of assumption, and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and the transferor Bank shall be released from its future obligations under this Agreement (andhereunder to a corresponding extent, in and no further consent or action by the case of an Assignment and Acceptance covering all Borrower, the Banks or the remaining portion Administrative Agent shall be required. Upon the consummation of any transfer to an Assignee pursuant to this Section 9.8.3, the transferor Bank, the Administrative Agent and the Borrower shall make appropriate arrangements so that, if required, a new Note is issued to such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto)Assignee.

Appears in 2 contracts

Samples: Credit Agreement (Avado Brands Inc), Credit Agreement (Avado Brands Inc)

Assignments. Any Lender may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance Assumption with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 10,000,000 (or, if less, the amount of its remaining Commitments and Advances in connection with an assignment of all such remaining Commitments and Advances) and, with respect to amounts equal to $10,000,000 or greater, shall be an integral multiple of $1,000,000 in excess thereof, (iii) the amount of the Commitments and Advances held by an assignee, after giving effect to all such assignments to such assignee, shall not be less than $10,000,000, (iv) each such assignment shall be to an Eligible Assignee, (ivv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and AcceptanceAssumption, together with the Notes subject to such assignment, and (vvi) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a LenderAgent) shall pay to the Administrative Agent a $3,500 5,000 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and AcceptanceAssumption, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and AcceptanceAssumption, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and AcceptanceAssumption, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance Assumption covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

Appears in 2 contracts

Samples: Credit Agreement (Contango Oil & Gas Co), Credit Agreement (Contango Oil & Gas Co)

Assignments. Any In addition to the assignments permitted in Section 11.3(a), each Lender may may, with the prior written consent of the Administrative Agent which shall not be unreasonably withheld, assign to one or more Eligible Assignees all or any a portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing hereunder pursuant to it, the Notes held by it, and the participation interest an assignment agreement substantially in the Letter form of Credit Obligations held by it)Exhibit 11.3 to one or more Eligible Assignees; provided, however, provided that (i) any such assignment shall be in a minimum aggregate amount of $10,000,000 of the Commitments and in integral multiples of $1,000,000 above such amount (or the remaining amount of Commitments held by such Lender) and (ii) each such assignment shall be of a constant, and not a varying, percentage of such all of the assigning Lender’s 's rights and obligations assigned under this Agreement and the Commitment being assigned. Any assignment hereunder shall be an equal percentage with respect to both its obligations owing in respect effective upon satisfaction of the Commitments conditions set forth above and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay delivery to the Administrative Agent (other than assignments by an Agent) of a duly executed assignment agreement together with a transfer fee of $3,500 administrative feepayable to the Administrative Agent for its own account, provided that such transfer fee shall not apply to assignments occurring during the initial syndication of the Commitments, as determined by the Agents. Upon the effectiveness of any such executionassignment, deliverythe assignee shall become a "Lender" for all purposes of this Credit Agreement and the other Credit Documents and, acceptance and recordingto the extent of such assignment, from and after the effective date specified in each Assignment and Acceptance, which effective date assigning Lender shall be at least three Business Days after relieved of its obligations hereunder to the execution extent of the Loans and Commitment components being assigned. Along such lines the Borrower agrees that upon notice of any such assignment and surrender of the appropriate Note or Notes, it will promptly provide to the assigning Lender and to the assignee separate promissory notes in the amount of their respective interests substantially in the form of the original Note or Notes (but with notation thereon that it is given in substitution for and replacement of the original Note or Notes or any replacement notes thereof). By executing and delivering an assignment agreement in accordance with this Section 11.3(b), (A) the assigning Lender thereunder and the assignee thereunder shall be a party deemed to confirm to and agree with each other and the other parties hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and as follows: (Bi) such assigning Lender thereunder shallwarrants that it is the legal and beneficial owner of the interest being assigned thereby free and clear of any adverse claim and the assignee warrants that it is an Eligible Assignee; (ii) except as set forth in clause (i) above, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Credit Agreement, any of the extent that rights and obligations hereunder have been assigned other Credit Documents or any other instrument or document furnished pursuant hereto or thereto, or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto or the financial condition of any Credit Party or the performance or observance by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from any Credit Party of any of its obligations under this Agreement Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto; (andiii) such assignee represents and warrants that it is legally authorized to enter into such assignment agreement; (iv) such assignee confirms that it has received a copy of this Credit Agreement, the other Credit Documents and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such assignment agreement; (v) such assignee will independently and without reliance upon the Agents, such assigning Lender or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in the case of an Assignment and Acceptance covering all taking or the remaining portion of such Lender’s rights and obligations not taking action under this AgreementCredit Agreement and the other Credit Documents; (vi) such assignee appoints and authorizes the Agents to take such action on its behalf and to exercise such powers under this Credit Agreement or any other Credit Document as are delegated to the Agents by the terms hereof or thereof, together with such Lender shall cease powers as are reasonably incidental thereto; and (vii) such assignee agrees that it will perform in accordance with their terms all the obligations which by the terms of this Credit Agreement and the other Credit Documents are required to be performed by it as a party hereto)Lender.

Appears in 2 contracts

Samples: Credit Agreement (Highwoods Properties Inc), Credit Agreement (Highwoods Properties Inc)

Assignments. (a) Any Lender may at any time assign to one or more Eligible Assignees Persons (any such Person, an “Assignee”) all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights Loans and obligations assigned under this Agreement and shall be an equal percentage Commitments, with respect to both its obligations owing in respect the prior written consent of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, the Issuing Lender (for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee assignment of the Administrative Agent Revolving Loans and the Revolving Commitment) and, so long as no Event of Default exists, the Company (which consents shall not be unreasonably withheld or delayed and shall not be required for an assignment by a Lender to a Lender or an Affiliate of a Lender). Except as the Administrative Agent may otherwise agree, any such assignment shall be in a minimum aggregate amount equal to $5,000,000 or, if less, the remaining Commitment and Loans held by the assigning Lender. The Company and the Administrative Agent shall be entitled to continue to deal solely and directly with such Lender in connection with the interests so assigned to an Assignee until the Administrative Agent shall have received and accepted an effective assignment agreement in substantially the form of Exhibit D hereto (an “Assignment Agreement”) shall executed, delivered and fully completed by the applicable parties thereto and a processing fee of $3,500. No assignment may be made to any Person if at the time of such assignment the Company would be obligated to pay any greater amount under Section 7.6 or 8 to the Assignee than the Company is then obligated to pay to the Administrative Agent a $3,500 administrative feeassigning Lender under such Sections (and if any assignment is made in violation of the foregoing, the Company will not be required to pay such greater amounts). Upon such execution, delivery, acceptance and recording, from and after the effective date specified Any attempted assignment not made in each Assignment and Acceptance, which effective date accordance with this Section 15.6.1 shall be at least three treated as the sale of a participation under Section 15.6.2. The Company shall be deemed to have granted its consent to any assignment requiring its consent hereunder unless the Company has expressly objected to such assignment within five Business Days after the execution notice thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

Appears in 2 contracts

Samples: Credit Agreement (Lecg Corp), Credit Agreement (Lecg Corp)

Assignments. Any At any time, each Lender may assign pursuant to one or more Eligible Assignees an Assignment Agreement substantially in the form of Exhibit E-2 hereto (each, an "Assignment Agreement") all or any a portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned hereunder pursuant to each such assignment this clause (determined as of the date of the Assignment and Acceptance with respect b)(A) to such assignment(x) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, one or more Lenders and/or their affiliates or (iiiy) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee consent of the Administrative Agent and so long as no Event of Default then exists with the consent of the Borrower (which consent shall not be unreasonably withheld), one or an Affiliate more other Eligible Transferees, provided that any such assignment pursuant to clause (y) above shall be in the aggregate amount of a at least $5,000,000, except to the extent that after giving effect to such assignment such Lender's Commitment is reduced to zero. Any assignment to another Lender pursuant to this clause (b)(A) shall pay will become effective upon the payment to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after by (I) either the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) assigning or the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and or (BII) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment assignment pursuant to Section 1.15, the Replacement Lender, of a nonrefundable assignment fee of $3,500 and Acceptance covering all the recording by the Administrative Agent of such assignment, and the resultant effects thereof on the Commitments (and the Short-Term Commitments and Long-Term Commitments, if any) of the assigning Lender and the assignee Lender, in the Register, the Administrative Agent hereby agreeing to effect such recordation no later than five Business Days after its receipt of a written notification by the assigning Lender and the assignee Lender of the proposed assignment, provided that the Administrative Agent shall not be required to (but may if it so elects) so record any assignment in the Register on or after the date on which any proposed amendment, modification or supplement in respect of this Agreement has been circulated to the Lenders for approval until the earlier of (x) the effectiveness of such amendment, modification or supplement in accordance with Section 12.12 or (y) 30 days following the date on which such proposed amendment, modification or supplement was circulated to the Lenders. Assignments pursuant to this clause (b)(A) to any Person not theretofore a Lender hereunder will only be effective if the Administrative Agent shall have received a written notice in the form of Exhibit E-1 hereto from the assigning Lender and the assignee Lender and payment of a nonrefundable assignment fee of $3,500 to the Administrative Agent by (I) either the assigning or the remaining assignee Lender or (II) in the case of an assignment pursuant to Section 1.15, the Replacement Lender. No later than five Business Days after its receipt of such written notice, the Administrative Agent will record such assignment, and the resultant effects thereof on the Commitment (and the Short-Term Commitment and Long-Term Commitment, if any) of the assigning Lender, in the Register, at which time such assignment shall become effective, provided that the Administrative Agent shall not be required to (but may if it so elects) record any assignment in the Register on or after the date on which any proposed amendment, modification or supplement in respect of this Agreement has been circulated to the Lenders for approval until the earlier of (x) the effectiveness of such amendment, modification or supplement in accordance with Section 12.12 or (y) 30 days following the date on which such proposed amendment, modification or supplement was circulated to the Lenders. Upon the effectiveness of any assignment pursuant to this clause (b)(A), (x) the assignee will become a "Lender" for all purposes of this Agreement and the other Credit Documents with a Commitment (and a Short-Term Commitment and Long-Term Commitment, if applicable) as so recorded by the Administrative Agent in the Register, and to the extent of such assignment, the assigning Lender shall be relieved of its obligations hereunder with respect to the portion of its Commitment (and Short-Term Commitment and Long-Term Commitment, if applicable) being assigned, (y) Annex I shall be deemed to be amended to reflect the Commitment (and Short-Term Commitment and Long-Term Commitment) of the respective assignee and of the other Lenders and (z) the Borrower shall issue new Notes (in exchange for the Note of the assigning Lender) to the assigning Lender (to the extent such Lender’s rights 's Commitment is not reduced to zero as a result of such assignment) and obligations under to the assignee Lender, in each case to the extent requested by the assigning Lender or assignee Lender, as the case may be, in conformity with the requirements of Section 1.06 to the extent needed to reflect the revised Commitments of such Lenders. The Administrative Agent will (x) notify each Letter of Credit Issuer within 5 Business Days of the effectiveness of any assignment hereunder and (y) prepare on the last Business Day of each calendar quarter during which an assignment has become effective pursuant to this Agreement, clause (b)(A) a new Annex I giving effect to all such Lender shall cease assignments effected during such quarter and will promptly provide same to be a party hereto)the Borrower and each of the Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Rj Reynolds Tobacco Holdings Inc), Credit Agreement (Rj Reynolds Tobacco Holdings Inc)

Assignments. Any Lender may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, including all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 3,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a LenderAgent) shall pay to the Administrative Agent a $3,500 administrative fee (provided that the Administrative Agent may waive such fee). Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereofthereof (unless the Administrative Agent agrees otherwise), (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

Appears in 2 contracts

Samples: Credit Agreement (Callon Petroleum Co), Security Agreement (Callon Petroleum Co)

Assignments. Any Lender Each Bank may assign to one or more Eligible Assignees financial institutions (as “Assignee”) all or any a portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, L/C Obligations and the participation interest in the Letter of Credit Obligations held by itLoans); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lenderthe assigning Bank’s rights and obligations assigned under this Agreement being assigned, and any assignment of such Bank’s Commitment and Committed Loans shall be an equal cover the same percentage with respect to both its obligations owing in respect of the Commitments such Bank’s Commitment and the related Advances and Letters of CreditCommitted Loans, (ii) unless Agent, Borrower and the L/C Issuer otherwise consent, the amount of the Commitments and Advances Commitment (such amount to be determined without reduction for utilization) of such Lender the assigning Bank being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance Assumption with respect to such assignment) shall be, if to an entity other than a Lender, not be less than One Million Dollars ($5,000,000 and 1,000,000) or shall be an integral multiple of One Million Dollars ($1,000,000 1,000,000) in excess thereof, and, unless such assigning Bank is assigning its entire Commitment, shall not reduce the amount of the Commitment retained by such Bank to less than Five Million Dollars ($5,000,000), (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, Agent for its acceptance and recording in the Register, an Assignment and AcceptanceAssumption, together with the Notes subject to such assignmenta processing and recordation fee of Three Thousand Five Hundred Dollars ($3,500), and (viv) each Eligible Assignee such assignment shall require the consent (other than which consent shall not be unreasonably withheld or delayed) of Borrower (unless an Event of Default shall have occurred and be continuing), Agent and the Eligible Assignee L/C Issuer; provided, however, that the consent of the Administrative Agent or an Affiliate of L/C Issuer shall not be required for any assignments by a Lender) shall pay Bank to the Administrative Agent a $3,500 administrative feeany other Bank. Upon such execution, delivery, approval, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereofAssumption, (Ax) the assignee Assignee thereunder shall be a party hereto for all purposes as a Bank and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and AcceptanceAssumption, have the rights and obligations of a Lender Bank hereunder and under the other Credit Documents and (By) such Lender the Bank assignor thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and AcceptanceAssumption, relinquish its rights and be released from its obligations under this Agreement and under the other Credit Documents (and, in the case of an Assignment and Acceptance Assumption covering all or the remaining portion of such Lenderan assigning Bank’s rights and obligations under this AgreementAgreement and under the other Credit Documents, such Lender Bank shall cease to be a party hereto, but shall remain entitled to the benefit of all of Borrower’s indemnities hereunder with respect to the period preceding such assignment).

Appears in 2 contracts

Samples: Credit Agreement (Midamerican Energy Holdings Co /New/), Credit Agreement (Midamerican Energy Holdings Co /New/)

Assignments. Any Lender Each Bank may assign all or a portion of its rights and obligations hereunder pursuant to this clause (b)(A) to (x) one or more Eligible Assignees all Banks or any portion affiliates of any Bank or (y) one or more other Eligible Transferees, provided that (i) any such assignment pursuant to clause (y) above shall be in the aggregate amount of at least $5,000,000, (ii) after giving effect to any such assignment pursuant to clause (x) or (y) above, no Bank shall have a Commitment of less than $5,000,000 unless such Bank's Commitment is reduced to zero pursuant to such assignment, (iii) the assigning Bank shall not assign any of its rights and obligations under this Agreement (including, without limitation, all or a portion assigning the same percentage of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and the 5-Year Agreement, provided that no Banks shall be required to make an equal percentage assignment under the 5-Year Agreement with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned assignments made pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible AssigneeSection 2.6 hereunder, (iv) any assignment pursuant to clause (y) shall require the parties consent of the Borrowers, which consent shall not be unreasonably withheld, and provided further, that, so long as no Loans or interest thereon shall be outstanding and no Default or Event of Default shall have occurred with respect to each PPL, Finance Co. or Resources and then be continuing, the Borrowers may at their option terminate the portion of such assignment shall execute and deliver assigning Bank's Commitment proposed to the Administrative Agent, for its acceptance and recording be assigned pursuant to clause (y) above in the Register, an Assignment and Acceptance, together with the Notes subject lieu of consenting to such assignment, and the Total Commitment shall be reduced in the amount of such termination. Assignments or terminations of all or any portion of any Bank's Commitment pursuant to this clause (vb)(A) each Eligible Assignee (other than will only be effective if the Eligible Assignee of Agent shall have received a written notice from the Administrative Agent or an Affiliate assigning Bank and the assignee, or, in the case of a Lender) shall pay to termination, the Administrative Agent a $3,500 administrative fee. Upon such executionBorrowers, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all assignment, payment of a nonrefundable assignment fee of $2,500 to the Agent by either the assigning Bank or the remaining assignee. No later than five Business Days after its receipt of any written notice of assignment or termination, the Agent will record such assignment or termination, and the resultant effects thereof on the Commitment of the assigning or terminating Bank and, in the case of an assignment, the assignee, in the Register, at which time such assignment or termination shall become effective, provided that the Agent shall not be required to, and shall not, so record any assignment or termination in the Register on or after the date on which any proposed amendment, modification or supplement in respect of this Agreement has been circulated to the Banks for approval until the earlier of (x) the effectiveness of such amendment, modification or supplement in accordance with Section 10.4 or (y) 30 days following the date on which such proposed amendment, modification or supplement was circulated to the Banks. Upon the effectiveness of any assignment or termination pursuant to this clause (b)(A), (x) the assignee, in the case of an assignment, will become a "Bank" for all purposes of this Agreement and the other Loan Documents with a Commitment as so recorded by the Agent in the Register, and to the extent of such assignment or termination, the assigning or terminating Bank shall be relieved of its obligations hereunder with respect to the portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto)its Commitment being assigned or terminated.

Appears in 2 contracts

Samples: Day Revolving Credit Agreement (Pp&l Resources Inc), Day Revolving Credit Agreement (Pp&l Inc)

Assignments. Any Lender may assign to one or more Eligible Assignees Assignee all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s 's rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (viv) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a LenderAgent) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s 's rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

Appears in 2 contracts

Samples: Credit Agreement (Alta Mesa Holdings, LP), Credit Agreement (Alta Mesa Holdings, LP)

Assignments. (a) Any Lender may assign to one or more Eligible Assignees all or any a portion of its rights and obligations under this Agreement (including, without limitation, including all or a portion of its CommitmentsCommitment and the Loans (including in all instances for purposes of this subsection (a), participations in L/C Obligations) at the Advances time owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, provided that (i) except in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at the time owing to it or in the case of an assignment to a Lender or an Affiliate of a Lender, the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder, including as noted above, participations in L/C Obligations) subject to each such assignment, determined as of the date the Lender Assignment with respect to such assignment is delivered to the Administrative Agent, shall not be less than $5,000,000 unless each of the Administrative Agent and, so long as no Default has occurred and is continuing and so long as in the case of Bank of Montreal, such Lender shall have been reduced to its “final hold amount” as described in the commitment letter referred to in the Agent and Arranger Fee Letter, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed), (ii) each partial assignment shall be made as an assignment of a constant, and not a varying, percentage proportionate part of such all the assigning Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and Loans or the related Advances and Letters of CreditCommitment assigned, except that this clause (ii) the amount shall not prohibit any Lender from assigning all or a portion of the Commitments its rights and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than obligations among separate Borrowings on a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereofnon-pro rata basis, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative AgentAgent a Lender Assignment, for its together with a processing and recordation fee of $3,500. Subject to acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of thereof by the Administrative Agent or an Affiliate pursuant to subsection (c) of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recordingthis Section, from and after the effective date specified in each Assignment and AcceptanceLender Assignment, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee Eligible Assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and AcceptanceLender Assignment, have the rights and obligations of a Lender hereunder under this Agreement, and (B) such the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been of the interest assigned by it pursuant to such Assignment and AcceptanceLender Assignment, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Lender Assignment and Acceptance covering all or of the remaining portion of such assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party heretohereto but shall continue to be entitled to the benefits of Sections 3.7, 10.4 and 10.5). Upon request, the Borrower (at its expense) shall execute and deliver new or replacement Notes to the assigning Lender and the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 10.7.3 of this Section.

Appears in 2 contracts

Samples: Credit Agreement (Comstock Resources Inc), Credit Agreement (Comstock Resources Inc)

Assignments. Any Lender Bank may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its CommitmentsCommitment, the Advances owing to it, and the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment of an Assigning Bank's Commitment shall be of a constant, and not a varying, percentage of all of such Lender’s Bank's rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of such Commitment and such Bank shall simultaneously assign a pro rata portion of such Bank's rights and obligations in respect of its Parallel Agreement Commitment so that its pro rata percentage of each of the Commitments and the related Advances and Letters of CreditParallel Agreement Commitments is the same, (ii) the amount of the Commitments resulting Commitment and Advances of such Lender being assigned the assigning Bank (unless it is assigning all its Commitment and all of its Parallel Agreement Commitment) and the assignee Bank pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not in no event be less than $5,000,000 10,000,000 and shall be an integral multiple of $1,000,000 in excess thereof1,000,000, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and AcceptanceAssignment, together with the Note or Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of not already a Lender) Bank hereunder shall pay to the Administrative Agent a an assignment fee of $3,500 administrative fee3000 in connection with such assignment. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and AcceptanceAssignment, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and AcceptanceAssignment, have the rights and obligations of a Lender Bank hereunder and (B) such Lender Bank thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and AcceptanceAssignment, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s Bank's rights and obligations under this Agreement, such Lender Bank shall cease to be a party hereto).

Appears in 2 contracts

Samples: Credit Agreement (Fina Inc), Credit Agreement (Fina Inc)

Assignments. Any Lender may No Party hereto shall assign to one or more Eligible Assignees all or any portion of its rights an interest hereunder except unto a reputable and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by itfinancially responsible Third Party, and the participation assigning Party shall be and remain liable for the obligations incurred by its assignee unless and until the sale or assignment has been approved in writing by the other Parties hereto, which approval shall not be unreasonably withheld. A transfer of interest to an affiliate, successor or subsidiary of a Party to this Agreement is not considered a transfer to a third party for the purpose of this provision. However, no approval shall be given unless and until all monies due and accounts payable accruing out of the development and operation of the Lease subject hereto shall have been paid in full by the Party assigning its interest. An assignment of interest hereunder shall not become effective as to the Parties until the first day of the month following delivery to Operator of a copy of an instrument evidencing the sale or assignment approved by the proper governmental authority and conforming to the requirements of this section. If, at any time the interest of any original Party to this Agreement is divided among and owned by more than two (2) co-owners, Operator, at its discretion, may require such co-owners to appoint a single trustee or agent with full authority to receive notices, approve expenditures, receive xxxxxxxx for and approve and pay such assignees' share of the joint expenses, and to deal generally with, and with power to bind, the assignees of such interest within the scope of operations embraced by this Agreement. Each Party shall incorporate in any assignment of an interest in the Letter of Credit Obligations held by it); provided, however, Lease a provision that (i) each such assignment is subject to this Agreement. Any assignment, vesting or relinquishment of interest between the Parties shall be without warranty of a constanttitle, except by, through and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto)Assignor.

Appears in 2 contracts

Samples: Letter Agreement, Joint Operating Agreement (West Texas Resources, Inc.)

Assignments. Any Lender may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s 's rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 10,000,000.00 (or, if less, the amount of its remaining Commitments and Advances in connection with an assignment of all such remaining Commitments and Advances) and, with respect to amounts equal to $10,000,000.00 or greater, shall be an integral multiple of $1,000,000 1,000,000.00 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a LenderAgent) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s 's rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

Appears in 2 contracts

Samples: Credit Agreement (Mariner Energy Inc), Credit Agreement (Mariner Energy Resources, Inc.)

Assignments. Any Lender Each Bank may assign pursuant to one or more Eligible Assignees an Assignment Agreement substantially in the form of Exhibit C-2 hereto (each, an "Assignment Agreement") all or any a portion of its rights and obligations under hereunder pursuant to this Agreement clause (includingb)(A) to (x) one or more Banks or (y) one or more other Eligible Transferees, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, provided that (i) each the consent of the Borrower shall be required in connection with any assignment pursuant to clause (x) or (y) above (which consent shall not be unreasonably withheld or delayed) and (ii) any such assignment pursuant to clause (y) above shall be in the aggregate amount of a constantat least (I) in the event of an assignment relating to this Agreement only, $10,000,000, except to the extent that after giving effect to any such assignment the assigning Bank shall have reduced its Commitment to zero and not a varying(II) in the event of an assignment relating to this Agreement and the Nabisco Credit Agreement, percentage $5,000,000, provided that the aggregate amount of such Lender’s rights and obligations assigned assignment under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be Nabisco Credit Agreement is at least three Business Days after the execution thereof$10,000,000, (A) the assignee thereunder shall be a party hereto for all purposes and, except to the extent that rights and obligations after giving effect to any such assignment the assigning Bank shall have reduced its Commitment hereunder have been assigned to it zero. Any assignment to another Bank pursuant to such Assignment and Acceptance, have this clause (b)(A) will become effective upon the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, payment to the extent that rights and obligations hereunder have been assigned Payments Administrator by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, I) either the assigning or the assignee Bank or (II) in the case of an Assignment assignment pursuant to Section 1.14, the Replacement Bank, of a nonrefundable assignment fee of $2,500 and Acceptance covering all or the remaining portion recording by the Payments Administrator of such Lender’s rights assignment, and obligations under the resultant effects thereof on the Commitments of the assigning Bank and the assignee Bank, in the Register, the Payments Administrator hereby agreeing to effect such recordation no later than five Business Days after its receipt of a written notification by the assigning Bank and the assignee Bank of the proposed assignment, provided that the Payments Administrator shall not be required to, and shall not, so record any assignment in the Register on or after the date on which any proposed amendment, modification or supplement in respect of this AgreementAgreement has been circulated to the Banks for approval until the earlier of (x) the effectiveness of such amendment, modification or supplement in accordance with Section 12.11 or (y) 30 days following the date on which such Lender proposed amendment, modification or supplement was circulated to the Banks. Assignments pursuant to this clause (b)(A) to any Person not theretofore a Bank hereunder will only be effective if the Payments Administrator shall cease to be have received a party hereto).written notice in the form of Exhibit

Appears in 2 contracts

Samples: Credit Agreement (Nabisco Inc), Credit Agreement (RJR Nabisco Inc)

Assignments. Any Lender may Each Bank shall have the right, subject to the further provisions of this SECTIONS 12.3, to sell or assign to one or more Eligible Assignees all or any portion part of its Commitments, Loans, Letter of Credit Obligations, Notes, and other rights and obligations under this Agreement and the other Loan Documents (includingsuch transfer, without limitationan "Assignment") to any commercial lender, all other financial institution or a other entity (an "Assignee"). Upon such Assignment becoming effective as provided in SECTION 12.3(b), the assigning Bank shall be relieved from the portion of its CommitmentsCommitment, the Advances owing to itits Swing Line Participation Amount, the Notes held by it, and the participation interest in the its Letter of Credit Obligations held Participation Amount, its obligations to indemnify the Agent and its other obligations hereunder to the extent assumed and undertaken by it); providedthe Assignee, howeverand to such extent the Assignee shall have assumed such portion of the assigning Bank's Commitment, that its Swing Line Participation Amount, its Letter of Credit Participation Amount and such other obligations hereunder and the Assignee shall have the rights of a "Bank" hereunder. Notwithstanding the foregoing, unless otherwise consented to by the Borrower and the Agent, each Assignment shall be in an amount not less than (i) each such assignment shall be the entire amount of a constantthe assigning Bank's Commitment and related rights and obligations, or (ii) $10,000,000 of the assigning Bank's Commitment and not a varying, percentage of such Lender’s related rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credithereunder, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be or an integral multiple of $1,000,000 in excess thereof, (iii) each if above such assignment amount. Each Assignment shall be to documented by an Eligible agreement among the assigning Bank, the Assignee, the Agent, and so long as no Default or Event of Default exists, the Borrower (ivan "Assignment and Assumption Agreement") the parties to each such assignment shall execute in form and deliver substance satisfactory to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

Appears in 2 contracts

Samples: Credit Agreement (Dain Rauscher Corp), Credit Agreement (Dain Rauscher Corp)

Assignments. Any Lender (a) with the written consent of the Borrower (provided that the consent of the Borrower shall not be required if an Event of Default has occurred and is continuing) and the Agent (which consent of the Borrower, if applicable, and the Agent shall not be unreasonably delayed or withheld), may at any time assign and delegate to one or more Eligible Assignees commercial banks or other financial institutions, and (b) with notice to the Borrower and the Agent, but without the consent of the Borrower or the Agent, may assign and delegate to any of its Affiliates or to any other Lender or Lender Affiliate (each Person described in either of the foregoing clauses as being the Person to whom such assignment and delegation is to be made, being hereinafter referred to as an "Assignee Lender"), all or any portion fraction of its rights such Lender's total Loans and obligations under this Agreement Commitments (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, which assignment and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment delegation shall be of a constant, and not a varying, percentage of all the assigning Lender's Loans and Commitments) in a minimum aggregate amount of $5,000,000; provided, however, that any such Lender’s rights Assignee Lender will comply, if applicable, with the provisions contained in the last sentence of Section 4.6 and obligations assigned under this Agreement further, provided, however, that, the Borrower and the Agent shall be entitled to continue to deal solely and directly with such Lender in connection with the interests so assigned and delegated to an equal percentage Assignee Lender until (i) written notice of such assignment and delegation, together with payment instructions, addresses and related information with respect to both its obligations owing in respect of such Assignee Lender, shall have been given to the Commitments Borrower and the related Advances Agent by such Lender and Letters of Creditsuch Assignee Lender, (ii) such Assignee Lender shall have executed and delivered to the amount of Borrower and the Commitments and Advances of such Agent a Lender being assigned pursuant to each such assignment (determined as of Assignment Agreement, accepted by the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereofAgent, (iii) each such assignment Assignee Lender shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver have delivered to the Agent an Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignmentQuestionnaire, and (viii) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) processing fees described below shall pay to the Administrative Agent a $3,500 administrative feehave been paid. Upon such execution, delivery, acceptance and recording, from From and after the effective date specified in each that the Agent accepts such Lender Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereofAgreement, (Ax) the assignee Assignee Lender thereunder shall be deemed automatically to have become a party hereto for all purposes andand to the extent that rights and obligations hereunder have been assigned and delegated to such Assignee Lender in connection with such Lender Assignment Agreement, shall have the rights and obligations of a Lender hereunder and under the other Loan Documents, and (y) the assignor Lender, to the extent that rights and obligations hereunder have been assigned to and delegated by it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) in connection with such Lender thereunder shallAssignment Agreement, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and shall be released from its obligations hereunder and under this Agreement (andthe other Loan Documents. Accrued interest on that part of the predecessor Loans and Commitments, and accrued fees, shall be paid as provided in the case Lender Assignment Agreement. Accrued interest on that part of an Assignment the predecessor Loans and Acceptance covering all Commitments shall be paid to the assignor Lender. Accrued interest and accrued fees shall be paid at the same time or the remaining portion of such Lender’s rights and obligations under times provided in this Agreement, . Such assignor Lender or such Assignee Lender must also pay a processing fee to the Agent upon delivery of any Lender Assignment Agreement in the amount of $3,500. Any attempted assignment and delegation not made in accordance with this Section shall cease to be a party hereto)null and void.

Appears in 2 contracts

Samples: Term Loan Agreement (Noble Energy Inc), Noble Energy Inc

Assignments. Any Lender Each Bank may assign pursuant to one or more Eligible Assignees an Assignment Agreement substantially in the form of Exhibit D-2 hereto (each, an "Assignment Agreement") all or any a portion of its rights and obligations under hereunder pursuant to this Agreement clause (includingb)(A) to (x) one or more Banks or (y) one or more other Eligible Transferees, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, provided that (i) each the consent of the Borrower shall be required in connection with any assignment pursuant to clause (x) or (y) above (which consent shall not be unreasonably withheld or delayed) and (ii) any such assignment pursuant to clause (y) above shall be in the aggregate amount of a constantat least (I) in the event of an assignment relating to this Agreement only, $10,000,000, except to the extent that after giving effect to any such assignment the assigning Bank shall have reduced its Commitment to zero and not a varying(II) in the event of an assignment relating this Agreement and the 364 DF Credit Agreement, percentage $5,000,000, provided, that the aggregate amount of such Lender’s rights and obligations assigned assignment under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be 364 DF Credit Agreement is at least three Business Days after the execution thereof$10,000,000, (A) the assignee thereunder shall be a party hereto for all purposes and, except to the extent that rights and obligations after giving effect to any such assignment the assigning Bank shall have reduced its Commitment hereunder have been assigned to it zero. Any assignment to another Bank pursuant to such Assignment and Acceptance, have this clause (b)(A) will become effective upon the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, payment to the extent that rights and obligations hereunder have been assigned Payments Administrator by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, I) either the assigning or the assignee Bank or (II) in the case of an Assignment assignment pursuant to Section 1.14, the Replacement Bank, of a nonrefundable assignment fee of $2,500 and Acceptance covering all the recording by the Payments Administrator of such assignment, and the resultant effects thereof on the Commitments of the assigning Bank and the assignee Bank, in the Register, the Payments Administrator hereby agreeing to effect such recordation no later than five Business Days after its receipt of a written notification by the assigning Bank and the assignee Bank of the proposed assignment, provided that the Payments Administrator shall not be required to, and shall not, so record any assignment in the Register on or after the date on which any proposed amendment, modification or supplement in respect of this Agreement has been circulated to the Banks for approval until the earlier of (x) the effectiveness of such amendment, modification or supplement in accordance with Section 12.12 or (y) 30 days following the date on which such proposed amendment, modification or supplement was circulated to the Banks. Assignments pursuant to this clause (b)(A) to any Person not theretofore a Bank hereunder will only be effective if the Payments Administrator shall have received a written notice in the form of Exhibit D-1 hereto from the assigning Bank and the assignee Bank and payment of a nonrefundable assignment fee of $2,500 to the Payments Administrator (provided, that in the event of simultaneous assignments relating to this Agreement and the 364 DF Credit Agreement, the fees for such assignment shall total $2,500) by (I) either the assigning or the remaining assignee Bank or (II) in the case of an assignment pursuant to Section 1.14, the Replacement Bank. No later than five Business Days after its receipt of such written notice, the Payments Administrator will record such assignment, and the resultant effects thereof on the Commitment of the assigning Bank, in the Register, at which time such assignment shall become effective, provided that the Payments Administrator shall not be required to, and shall not, so record any assignment in the Register on or after the date on which any proposed amendment, modification or supplement in respect of this Agreement has been circulated to the Banks for approval until the earlier of (x) the effectiveness of such amendment, modification or supplement in accordance with Section 12.12 or (y) 30 days following the date on which such proposed amendment, modification or supplement was circulated to the Banks. Upon the effectiveness of any assignment pursuant to this clause (b)(A), (x) the assignee will become a "Bank" for all purposes of this Agreement and the other Credit Documents with a Commitment as so recorded by the Payments Administrator in the Register, and to the extent of such assignment, the assigning Bank shall be relieved of its obligations hereunder with respect to the portion of its Commitment being assigned and (y) if such Lender’s rights assignment occurs after the Effective Date, the Borrower shall issue new Notes (in exchange for the Note of the assigning Bank) to the assigning Bank (to the extent such Bank's Commitment is not reduced to zero as a result of such assignment) and obligations under to the assignee Bank, in each case to the extent requested by the assigning Bank or assignee Bank, as the case may be, in conformity with the requirements of Section 1.06 to the extent needed to reflect the revised Commitments of such Banks. The Payments Administrator will prepare on the last Business Day of each calendar quarter during which an assignment has become effective pursuant to this Agreement, clause (b)(A) a new Annex I giving effect to all such Lender shall cease assignments effected during such quarter and will promptly provide same to be a party hereto)the Borrower and each of the Banks.

Appears in 2 contracts

Samples: Nabisco Credit Agreement (Nabisco Inc), Nabisco Credit Agreement (RJR Nabisco Inc)

Assignments. Any Lender Bank may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its CommitmentsCommitment, the Advances Loans owing to it, and the Notes held by it) with the consent, not to be unreasonably withheld, of the Administrative Agent and the participation interest in the Letter of Credit Obligations held by it)Borrower; provided, however, that (i) each such assignment of an assigning Bank’s Commitment shall be of a constant, and not a varying, percentage of all of such LenderBank’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Creditsuch Commitment, (ii) the amount of the Commitments resulting Commitment and Advances Loans of such Lender being assigned the assigning Bank (unless it is assigning all its Commitment) and the assignee Bank pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not in no event be less than $5,000,000 10,000,000 and shall be an integral multiple of $1,000,000 in excess thereof1,000,000, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, Agent for its acceptance and recording in the Register, an Assignment and AcceptanceAssignment, together with the Note or Notes subject to such assignment, assignment and shall pay all legal and other expenses in respect of such assignment and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of not already a Lender) Bank hereunder shall pay to the Administrative Agent a an assignment fee of $3,500 administrative feein connection with such assignment. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and AcceptanceAssignment, which effective date shall be at least three (3) Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and AcceptanceAssignment, have the rights and obligations of a Lender Bank hereunder and (B) such Lender Bank thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and AcceptanceAssignment, relinquish its rights and be released from its obligations to lend under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such LenderBank’s rights and obligations under this Agreement, such Lender Bank shall cease to be a party hereto).

Appears in 2 contracts

Samples: Bridge Loan Agreement (Brinker International Inc), Bridge Loan Agreement (Brinker International Inc)

Assignments. Any Lender (a) Subject to Section 12.14, the Lenders collectively or individually may assign to one or more Eligible Assignees all or any a portion of its their respective rights and obligations under this Agreement (including, without limitation, all or a an undivided portion thereof corresponding to the portion of its Commitments, the Advances owing to it, the Notes held Commitment being assigned) by it, and the participation interest in the Letter way of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the Assignment. The parties to each such assignment Assignment shall execute and deliver an Assignment Agreement in the form set out in Schedule 4 to the Borrower, and to the Administrative Agent for its consent and recording in the Register and, except in the case of an Assignment by the Lenders collectively or an Assignment by a Lender to an affiliate of that Lender, shall pay a processing and recording fee of Three Thousand, Five Hundred Canadian Dollars (Cdn.$3,500) to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon After such execution, delivery, acceptance consent and recording, from and after recording the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee Assignee thereunder shall be a party hereto for all purposes to this Agreement and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptanceit, have the rights and obligations of a Lender hereunder and (B) such the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and AcceptanceAgreement, relinquish its rights and be released from its obligations under this Agreement (Agreement, other than obligations in respect of which it is then in default and liabilities arising from its actions prior to the Assignment, and, in the case of an Assignment and Acceptance Agreement covering all or the remaining portion of such an assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto). The Lenders agree that, provided that no Event of Default under this Agreement or the Trust Indenture has occurred, no assignment shall be made which would result in any increased costs to the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Midamerican Funding LLC), Credit Agreement (Midamerican Funding LLC)

Assignments. (a) Any Lender may at any time assign to one or more Eligible Assignees Persons (any such Person, an “Assignee”) all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights Loans and obligations assigned under this Agreement and shall be an equal percentage Commitments, with respect to both its obligations owing in respect the prior written consent of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, and, so long as no Event of Default has occurred and is continuing, the Parent (all of which consents shall not be unreasonably withheld or delayed and shall not be required for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject assignment by a Lender to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent another Lender or an Affiliate of a Lender). Except as the Administrative Agent may otherwise agree, any such assignment shall be in a minimum aggregate amount equal to Five Million Dollars ($5,000,000) or, if less, the remaining Commitment and Loans held by the assigning Lender. The Parent and the Administrative Agent shall be entitled to continue to deal solely and directly with such Lender in connection with the interests so assigned to an Assignee until the Administrative Agent shall have received and accepted an effective assignment agreement in substantially the form of Exhibit C hereto (an “Assignment Agreement”) executed, delivered and fully completed by the applicable parties thereto and a processing fee of Three Thousand Five Hundred Dollars ($3,500). No assignment may be made to any Person if at the time of such assignment the Borrowers would be obligated to pay any greater amount under Sections 7.6 or 8 to the Assignee than the Borrowers are then obligated to pay to the Administrative Agent a $3,500 administrative feeassigning Lender under such Sections (and if any assignment is made in violation of the foregoing, the Borrowers will not be required to pay such greater amounts). Upon such execution, delivery, acceptance and recording, from and after the effective date specified Any attempted assignment not made in each Assignment and Acceptance, which effective date accordance with this Section 15.6.1 shall be at least three treated as the sale of a participation under Section 15.6.2. The Parent shall be deemed to have granted its consent to any assignment requiring its consent hereunder unless the Parent has expressly objected to such assignment within five (5) Business Days after the execution notice thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

Appears in 2 contracts

Samples: Credit Agreement (Aviv REIT, Inc.), Credit Agreement (Aviv REIT, Inc.)

Assignments. Any Lender may Each Bank may, upon at least five Banking Days' notice to the Administrative Agent and the Borrower assign to one or more Eligible Assignees financial institutions (an "Assignee") all or any a portion of its rights and obligations under this Agreement and its Note (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by itCommitment, and the participation interest in the Letter of Credit Obligations held by itLoans); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s the assigning Bank's rights and obligations under the relevant Commitment and Note being assigned under this Agreement and shall (it being understood that any such assignment need not be an equal percentage with respect to both its obligations owing in respect of a ratable share of the Commitments and Notes held by the related Advances and Letters of Creditassigning Bank), (ii) unless the Administrative Agent and the Borrower otherwise consent, the aggregate amount of the Commitments and Advances (without duplication) Loans of such Lender the assigning Bank being assigned pursuant to each such assignment to an assignee which is not then a Bank hereunder or an affiliate thereof (determined as of the date of the Assignment and Acceptance Agreement with respect to such assignment) shall be, if to an entity other than a Lender, not be less than $5,000,000 and and, unless such assigning Bank is assigning its entire Revolving Credit Commitment, shall be an integral multiple not reduce the aggregate amount of the Commitments retained by such Bank to less than $1,000,000 in excess thereof5,000,000, (iii) each such assignment shall be to an Eligible Assigneea financial institution, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its approval, acceptance and recording in the Register, an Assignment and AcceptanceAcceptance Agreement, together with (except in the Notes subject case of any assignment made pursuant to Section 7.15, in which event no such assignmentfee shall be due) a processing and recordation fee of $3,500, and (v) each Eligible Assignee (other than except in the Eligible Assignee case of the Administrative Agent an assignment to an assignee which is a Bank or an Affiliate affiliate thereof, or an assignment which is made when an Event of a Lender) Default is continuing, the Borrower shall pay consent to the Administrative Agent a $3,500 administrative feesuch assignment, which consent shall not be unreasonably withheld. Upon such execution, delivery, approval, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereofAcceptance Agreement, (Ax) the assignee Assignee thereunder shall be a party hereto for all purposes as a Bank and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and AcceptanceAcceptance Agreement, have the rights and obligations of a Lender Bank hereunder and (By) such Lender the Bank assignor thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and AcceptanceAcceptance Agreement, relinquish its rights and be released from its obligations under this Agreement and its Note (and, in the case of an Assignment and Acceptance Agreement, covering all or the remaining portion of such Lender’s an assigning Bank's rights and obligations under this AgreementAgreement and its Note, such Lender Bank shall cease to be a party hereto). Notwithstanding anything to the contrary contained herein, no Assignee shall be entitled to receive compensation under Section 7.12 or 7.13 hereof to the extent that circumstances giving rise to such payment were in effect on the date of the relevant assignment.

Appears in 2 contracts

Samples: Credit Agreement (Computer Associates International Inc), Credit Agreement (Computer Associates International Inc)

Assignments. Any Lender Bank may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Revolving Loan Commitments, the Revolving Loan Advances owing to it, the Revolving Loan Notes held by it, and the participation interest in the Letter Letters of Credit Obligations held owned by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of all of such Lender’s Bank's rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of CreditAgreement, (ii) the amount assignments of the Revolving Loan Commitments and Advances shall be made in minimum amounts of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an made in integral multiple multiples of $1,000,000 and the assigning Bank, if it retains any Revolving Loan Commitments, shall maintain at least $5,000,000 in excess thereofRevolving Loan Commitments, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Revolving Loan Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a LenderAgent) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender Bank hereunder and (B) such Lender Bank thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s Bank's rights and obligations under this Agreement, such Lender Bank shall cease to be a party hereto).

Appears in 2 contracts

Samples: Credit Agreement (Tyler Technologies Inc), Credit Agreement (Integrated Electrical Services Inc)

Assignments. Any Each Lender may assign to one any or more Eligible Assignees all or any portion of its rights and obligations under this Agreement the Facilities Papers to any "ELIGIBLE ASSIGNEE" -- which means (includinga) a commercial bank having total assets in excess of One Billion Dollars ($1,000,000,000) or (b) a finance company, without limitationinsurance company or other financial institution or fund, all acceptable to the Agent, that is regularly engaged in making, purchasing or investing in loans and has total assets in excess of One Billion Dollars ($1,000,000,000), in each case with the consent of the Agent and the Company (which consent shall not be unreasonably withheld or delayed); provided that (1) no such assignment shall result in a portion Lender's having an aggregate Committed Sum of its Commitmentsless than Five Million Dollars ($5,000,000), (2) neither the Advances owing Company nor the Agent shall have any obligation to it, the Notes held by itconsent to there being more than a total of ten (10) Lenders (a participant is not a Lender), and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i3) each such assignment shall be substantially in the form of a constantEXHIBIT F, with the assignor to exchange its Senior Credit Note(s) for new Senior Credit Note(s) and not a varying, percentage of such Lender’s the Eligible Assignee to receive new Senior Credit Note(s) and with the assignor to have no further right or obligation with respect to the rights and obligations assigned to and assumed by the Eligible Assignee. The Company agrees to cooperate with the prompt execution and delivery of documents reasonably necessary to such assignment process, including the issuance of new Senior Credit Note(s) to the assignor (if retaining an interest hereunder) and the Eligible Assignee immediately upon delivery to the Company of the assignor's Senior Credit Note(s). Upon such assignment, the assignee shall be a Lender for all purposes under this Agreement and the other Facilities Papers, if the assignment is an assignment of all of the assignor's interest in the Loan and its security, the assignor shall be an equal percentage with respect to both automatically released from all of its obligations owing in respect of and liabilities hereunder, and, whether it is such a complete assignment or only a partial assignment, the Commitments Committed Sums shall be adjusted appropriately, and the related Advances parties agree to approve in writing revised and Letters updated versions of Credit, (ii) the amount of the Commitments SCHEDULES LC and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto)FS.

Appears in 2 contracts

Samples: Credit Agreement (Long Beach Financial Corp), Credit Agreement (Long Beach Financial Corp)

Assignments. (a) Any Lender may (an "Assignor") may, in accordance with applicable law, at any time and from time to time assign to one any Person (an "Assignee"), with the consent of the Administrative Agent (which consent shall not be required in the case of any assignment to a Lender, an Affiliate of a Lender or more Eligible Assignees an Approved Fund of any Lender), all or any portion part of its rights and obligations under this Agreement (includingpursuant to a Lender Assignment Agreement, without limitationexecuted by such Assignee, all or a portion of its Commitments, the Advances owing such Assignor and any other Person whose consent is required pursuant to it, the Notes held by itthis paragraph, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver delivered to the Administrative Agent, Agent for its acceptance and recording in the Register, ; provided that no such assignment to an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than any Lender or any Affiliate or Approved Fund thereof) shall be in an aggregate principal amount of less than $1,000,000 (other than in the Eligible Assignee case of an assignment of all of a Lender's interests under this Agreement and treating simultaneous assignments to and from Approved Funds of a single Lender as one assignment), unless otherwise agreed by the Borrower and the Administrative Agent or and; provided, further, that after giving effect to any such assignment the assigning Lender shall have Loans remaining of at least $1,000,000 in the aggregate amount (other than in the case of an Affiliate assignment of all of a Lender) shall pay 's interests under this Agreement and treating simultaneous assignments to the Administrative Agent and from Approved Funds of a $3,500 administrative feesingle Lender as one assignment). Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each determined pursuant to such Lender Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereofAgreement, (Ax) the assignee Assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to provided in such Lender Assignment and AcceptanceAgreement, have the rights and obligations of a Lender hereunder with Loans as set forth therein, and (By) such Lender the Assignor thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to provided in such Lender Assignment and AcceptanceAgreement, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an a Lender Assignment and Acceptance Agreement covering all or the remaining portion of such Lender’s an Assignor's rights and obligations under this Agreement, such Lender Assignor shall cease to be a party hereto). Any assignment or sale that does not comply with this clause (a) shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 10.11.2.

Appears in 2 contracts

Samples: Credit Agreement (Edison Mission Energy), Credit Agreement (Edison Mission Energy)

Assignments. Any Each Lender may assign to one or more Eligible Assignees all or any a portion of its rights and obligations under this Agreement hereunder, pursuant to an assignment agreement substantially in the form of Schedule 11.3(b), to (includingi) any Lender or any Affiliate or Subsidiary of a Lender, without limitationor (ii) any other commercial bank, all financial institution or a portion "accredited investor" (as defined in Regulation D of its Commitmentsthe Securities and Exchange Commission) reasonably acceptable to the Administrative Agent and, so long as no Default or Event of Default has occurred and is continuing, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it)Borrower; provided, however, provided that (i) any such assignment (other than any assignment to an existing Lender) shall be in a minimum aggregate amount of $5,000,000 (or, if less, the remaining amount of the Commitment being assigned by such Lender) of the Commitments and in integral multiples of $1,000,000 above such amount and (ii) each such assignment shall be of a constant, and not a varying, percentage of all such Lender’s 's rights and obligations assigned under this Agreement and Credit Agreement. Any assignment hereunder shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay effective upon delivery to the Administrative Agent of written notice of the assignment together with a transfer fee of $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, payable by the Assigning Lender to the Administrative Agent for its own account from and after the later of (i) the effective date specified in each Assignment the applicable assignment agreement and Acceptance(ii) the date of recording of such assignment in the Register pursuant to the terms of subsection (c) below. The assigning Lender will give prompt notice to the Administrative Agent and the Borrower of any such assignment. Upon the effectiveness of any such assignment (and after notice to, which effective date and (to the extent required pursuant to the terms hereof), with the consent of, the Borrower as provided herein), the assignee shall become a "Lender" for all purposes of this Credit Agreement and the other Credit Documents and, to the extent of such assignment, the assigning Lender shall be at least three Business Days after relieved of its obligations hereunder to the execution extent of the Loans and Commitment components being assigned. Along such lines the Borrower agrees that upon notice of any such assignment and surrender of the appropriate Note or Notes, it will promptly provide to the assigning Lender and to the assignee separate promissory notes in the amount of their respective interests substantially in the form of the original Note (but with notation thereon that it is given in substitution for and replacement of the original Note or any replacement notes thereof). By executing and delivering an assignment agreement in accordance with this Section 11.3(b), (A) the assigning Lender thereunder and the assignee thereunder shall be a party deemed to confirm to and agree with each other and the other parties hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and as follows: (Bi) such assigning Lender thereunder shallwarrants that it is the legal and beneficial owner of the interest being assigned thereby free and clear of any adverse claim; (ii) except as set forth in clause (i) above, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Credit Agreement, any of the extent that rights and obligations hereunder have been assigned other Credit Documents or any other instrument or document furnished pursuant hereto or thereto, or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto or the financial condition of any Credit Party or any of their respective Affiliates or the performance or observance by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from any Credit Party of any of its obligations under this Agreement Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto; (andiii) such assignee represents and warrants that it is legally authorized to enter into such assignment agreement; (iv) such assignee confirms that it has received a copy of this Credit Agreement, the other Credit Documents and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such assignment agreement; (v) such assignee will independently and without reliance upon the Administrative Agent, such assigning Lender or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in the case of an Assignment and Acceptance covering all taking or the remaining portion of such Lender’s rights and obligations not taking action under this AgreementCredit Agreement and the other Credit Documents; (vi) such assignee appoints and authorizes the Administrative Agent to take such action on its behalf and to exercise such powers under this Credit Agreement or any other Credit Document as are delegated to the Administrative Agent by the terms hereof or thereof, together with such Lender shall cease powers as are reasonably incidental thereto; and (vii) such assignee agrees that it will perform in accordance with their terms all the obligations which by the terms of this Credit Agreement and the other Credit Documents are required to be performed by it as a party hereto)Lender.

Appears in 2 contracts

Samples: Credit Agreement (School Specialty Inc), Credit Agreement (School Specialty Inc)

Assignments. Any Each Lender may assign to one or more Eligible Assignees all or any a portion of its rights and obligations under this Agreement hereunder, pursuant to an assignment agreement substantially in the form of Exhibit 11.3(b), to (includingi) any Lender or any Affiliate or Subsidiary of a Lender, without limitationor (ii) any other commercial bank, all financial institution or a portion "accredited investor" (as defined in Regulation D of its Commitmentsthe Securities and Exchange Commission) reasonably acceptable to the Agent and, so long as no Default or Event of Default has occurred and is continuing, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it)Parent; provided, however, provided that (i) any such assignment (other than any assignment to an existing Lender) shall be in a minimum aggregate amount of $15,000,000 (or, if less, the remaining amount of the Commitment being assigned by such Lender) of the Commitments and in integral multiples of $1,000,000 above such amount and (ii) each such assignment shall be of a constant, and not a varying, percentage of all such Lender’s 's rights and obligations assigned under this Credit Agreement and shall be (including specifically, without limitation, an equal percentage with respect to both its obligations owing in respect of such Lender's Revolving Commitment Percentage and outstanding principal balance of the Commitments and Term Loan). Any assignment hereunder shall be effective upon delivery to the related Advances and Letters Agent of Credit, (ii) the amount written notice of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance together with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple transfer fee of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver 3,500 payable to the Administrative Agent, Agent for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, own account from and after the later of (i) the effective date specified in each Assignment the applicable assignment agreement and Acceptance(ii) the date of recording of such assignment in the Register pursuant to the terms of subsection (c) below. The assigning Lender will give prompt notice to the Agent and the Parent of any such assignment. Upon the effectiveness of any such assignment (and after notice to, which effective date and (to the extent required pursuant to the terms hereof), with the consent of, the Parent as provided herein), the assignee shall become a "Lender" for all purposes of this Credit Agreement and the other Credit Documents and, to the extent of such assignment, the assigning Lender shall be at least three Business Days after relieved of its obligations hereunder to the execution extent of the Loans and Commitment components being assigned. Along such lines the Borrowers agree that upon notice of any such assignment and surrender of the appropriate Note or Notes, they will promptly provide to the assigning Lender and to the assignee separate promissory notes in the amount of their respective interests substantially in the form of the original Note (but with notation thereon that it is given in substitution for and replacement of the original Note or any replacement notes thereof). By executing and delivering an assignment agreement in accordance with this Section 11.3(b), (A) the assigning Lender thereunder and the assignee thereunder shall be a party deemed to confirm to and agree with each other and the other parties hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and as follows: (Bi) such assigning Lender thereunder shallwarrants that it is the legal and beneficial owner of the interest being assigned thereby free and clear of any adverse claim; (ii) except as set forth in clause (i) above, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Credit Agreement, any of the extent that rights and obligations hereunder have been assigned other Credit Documents or any other instrument or document furnished pursuant hereto or thereto, or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto or the financial condition of the Credit Parties or any of their Affiliates or the performance or observance by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its the Credit Parties of any of their obligations under this Agreement Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto; (andiii) such assignee represents and warrants that it is legally authorized to enter into such assignment agreement; (iv) such assignee confirms that it has received a copy of this Credit Agreement, the other Credit Documents and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such assignment agreement; (v) such assignee will independently and without reliance upon the Agent, such assigning 77 Lender or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in the case of an Assignment and Acceptance covering all taking or the remaining portion of such Lender’s rights and obligations not taking action under this AgreementCredit Agreement and the other Credit Documents; (vi) such assignee appoints and authorizes the Agent to take such action on its behalf and to exercise such powers under this Credit Agreement or any other Credit Document as are delegated to the Agent by the terms hereof or thereof, together with such Lender shall cease powers as are reasonably incidental thereto; and (vii) such assignee agrees that it will perform in accordance with their terms all the obligations which by the terms of this Credit Agreement and the other Credit Documents are required to be performed by it as a party hereto)Lender.

Appears in 1 contract

Samples: Credit Agreement (Central Parking Corp)

Assignments. Any Lender may assign to one or more Eligible Assignees Assignee all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, and the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of CreditAdvances, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (viv) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a LenderAgent) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

Appears in 1 contract

Samples: Credit Agreement (Three Forks, Inc.)

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Assignments. Any The Agent and each Lender may shall have the right at any time to assign to one or more Eligible Assignees commercial banks, commercial finance lenders or other financial institutions or funds all or any a portion of its rights and obligations under this Financing Agreement (including, without limitation, all or a portion of its Commitments, obligations under the Advances owing to it, the Notes held by it, Revolving Loans and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s its rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount ). Upon execution of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereofTransfer Agreement, (Aa) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptanceassignment, have the rights and obligations of a the Agent or such Lender as the case may be hereunder and (Bb) the Agent and such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptanceassignment, relinquish its rights and be released from its obligations under this Agreement (andFinancing Agreement. The Obligors shall, if necessary, execute any documents reasonably required to effectuate the assignments. No other Lender may assign its interest in the case loans and advances and extensions of credit hereunder without the prior written consent of the Agent (which consent shall not be unreasonably withheld). If the Agent consents to any such assignment by any other Lender (i) the amount being assigned shall in no event be less than the lesser of (x) $5,000,000 or (y) the entire interest of such Lender hereunder, (ii) such assignment shall be of a pro-rata portion of all of such assigning Lender’s loans and commitments hereunder and (iii) the parties to such assignment shall execute and deliver to the Agent an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Transfer Agreement, such Lender shall cease and, at the Agent’s election, a processing and recording fee of $1,000 payable by the Obligors to be a party hereto)the Agent for its own account.

Appears in 1 contract

Samples: Financing Agreement (Lone Star Technologies Inc)

Assignments. Any Lender Each Bank may at any time assign and delegate to one or more Eligible Assignees all or any portion of its rights and obligations under this Agreement (includingeach, an "Assignee"), without limitationthe consent of the Company, all or a portion of its Commitmentsthe Loans, the Advances owing to it, the Notes held by it, Commitment and the participation interest in other rights and obligations of such Bank hereunder, under the Letter of Credit Obligations held by it)other Loan Documents and under the Environmental Indemnity; provided, however, that any assignment of a Bank's interest in the Loans, the Commitment and the other rights and obligations of such Bank hereunder and under the other Loan Documents shall be in the minimum amount of Ten Million Dollars ($10,000,000.00) and multiples of One Million Dollars ($1,000,000.00) in excess thereof; and provided further, however, that the Company may continue to deal solely and directly with the assignor Bank in connection with the interest so assigned to an Assignee until (i) each such assignment shall be of a constant, and not a varying, percentage written notice of such Lender’s rights and obligations assigned under this Agreement and assignment, substantially in the form of Schedule 1 to the attached Exhibit G, shall be an equal percentage with respect have been given to both its obligations owing in respect of the Commitments Company and the related Advances Administrative Agent by such Bank and Letters of Creditthe Assignee, (ii) the amount of the Commitments such Bank and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) its Assignee shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver have delivered to the Administrative Agent, for its acceptance Agent and recording in the Register, Company an Assignment and Acceptance, Assumption Agreement substantially in the form of the attached Exhibit G("Assignment and Assumption Agreement") (together with the Notes any Note(s) subject to such assignment), and (viii) each Eligible the Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay have paid to the Administrative Agent a processing fee in the amount of $3,500 administrative fee2,500. Upon such execution, delivery, acceptance and recording, from and after In the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after event that the execution thereof, (A) Company elects to permanently reduce the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it Maximum Commitment Amount pursuant to such Assignment Section 2.5, the minimum required hold amounts and Acceptancethe minimum amount of any assignment of a Bank's interest in the Loans, have the Commitment and the other rights and obligations of a Lender such Bank hereunder and (B) such Lender thereunder shall, to under the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and other Loan Documents shall be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto).reduced pro rata. 10.8.2

Appears in 1 contract

Samples: Credit Agreement (Bedford Property Investors Inc/Md)

Assignments. Any (a) Each Lender may assign to one or more Eligible Assignees all or any a portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Note or Notes held by it, it and the participation interest in the Letter of Credit Obligations held by itremaining Loan Documents); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s all rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of CreditAgreement, (ii) the amount of the Commitments and Advances Commitment of such the assigning Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance Agreement with respect to such assignment) shall be, if to an entity other than a Lender, not in no event be less than $5,000,000 1,000,000 (or such lesser arnount as is reasonably acceptable to the Required Lenders) (unless such lesser amount is the entire amount of such assigning Lender's Commitment or outstanding Advances) and shall be an integral multiple of $1,000,000 in excess thereof100,000, (iii) each such assignment shall be to an Eligible Assignee, and (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and AcceptanceAgreement, together with the any Note or Notes subject to such assignment, assignment and (v) each Eligible Assignee (other than the Eligible Assignee a processing and recordation fee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee5,000. Upon such execution, delivery, acceptance and recordingrecording of an Assignment Agreement, from and after the effective date specified in each such Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereofAgreement, (A) the assignee thereunder shall be a 44 party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and AcceptanceAgreement, have the rights and obligations of a Lender hereunder and (B) such the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and AcceptanceAgreement, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance Agreement covering all or the remaining portion of such an assigning Lender’s 's rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

Appears in 1 contract

Samples: Credit Agreement

Assignments. Any Lender may From and after the date of this Agreement, any Bank (any such Bank being referred to herein as an "Assigning Bank") may, subject to the prior written consent of the Borrower, which consent will not be unreasonably withheld, in the ordinary course of its business and in accordance with Applicable Law, assign and transfer to any other Bank or to any Affiliate of such Assigning Bank and, with the consent of the Agent (such consent not to be unreasonably withheld), to any one or more Eligible Assignees all additional banks or financial institutions ("Purchasing Bank") any portion part of its such Assigning Bank's rights and obligations (including Commitments) under this Agreement Agreement, its Notes and the other Loan Documents (includingwhich assignments and transfers shall be, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by itas nearly as practicable, and permitting customary rounding of such assignments and transfers and resulting retained interests, on a pro rata basis as to all of the participation interest Loans, Notes and Commitments of such Assigning Bank and as to all of the other rights and obligations of such Assigning Bank). Any such assignment and transfer ("Assignment") shall be made pursuant to an Assignment and Acceptance Agreement, substantially in the Letter form of Credit Obligations held Exhibit E attached hereto (an "Assignment and Acceptance Agreement"), executed by itsuch Purchasing Bank and such Assigning Bank (and, in the case of a Purchasing Bank that is not then a Bank or an Affiliate thereof, by the Agent) and delivered to the Agent for its acceptance and recording in the Register (as hereinafter defined); provided, however, that (ia) the aggregate principal amount of all Loans and Commitments of the Assigning Bank being assigned pursuant to any such Assignment shall in no event be less than $1,000,000 and shall be in an integral multiple of $500,000 in excess thereof, (b) each such assignment Assignment shall be of a constant, and not a varying, percentage of such Lender’s all of the Assigning Bank's interests in all of its Commitments, Loans and Notes and all of its other rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of Agreement, the Commitments Notes and the related Advances other Loan Documents, and Letters of Credit(c) after giving effect to any such Assignment by an Assigning Bank, (ii) the aggregate amount of the Assigning Bank's Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) hereunder shall be, if to an entity other than a Lender, not be less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee1,000,000. Upon such execution, delivery, acceptance and recording, from From and after the effective date specified in each Assignment and AcceptanceAcceptance Agreement, which effective date shall must be at least three five (5) Business Days after the execution thereof, and delivery of such Assignment and Acceptance Agreement to the Agent and (Aif required) the assignee acceptance of such Assignment and Acceptance Agreement by the Agent (the "Transfer Effective Date"): (i) the Purchasing Bank thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to provided in such Assignment and AcceptanceAcceptance Agreement, have the rights and obligations of a Lender Bank hereunder with respect to the Loans, Commitments and Notes as set forth therein, and (Bii) such Lender the Assigning Bank thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to provided in such Assignment and AcceptanceAcceptance Agreement, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

Appears in 1 contract

Samples: Credit Agreement (Softech Inc)

Assignments. Any Lender may at any time assign to one or more Eligible Assignees all or any portion of its rights and obligations under this Agreement (including, without limitation, including all or a any portion of its Commitments, Commitments and the Advances Loans at the time owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that that: (ia) each such except in the case of an assignment shall be of a constant, and not a varying, percentage the entire remaining amount of such the assigning Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters Loans at the time owing to it, or in the case of Creditan assignment to a Lender or a Lender Affiliate, (ii) the aggregate amount of the Commitments and Advances (which for this purpose includes Loans outstanding thereunder) or, if the applicable Commitments are not then in effect, the principal outstanding balance of such the Loans of the assigning Lender being assigned pursuant subject to each such assignment (determined as of the date of on which the Assignment and Acceptance with respect to such assignmentassignment is delivered to the Administrative Agent) shall be, if to an entity other than a Lender, not be less than $5,000,000 unless each of the Administrative Agent and, so long as no Default or Event of Default has occurred and shall is continuing, the Borrower otherwise consents (each such consent not to be an integral multiple of $1,000,000 in excess thereof, unreasonably withheld or delayed); (iiib) each such partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to an Eligible Assigneethe Loans, Letter of Credit Participations and Commitments assigned, it being understood that non-pro rata assignments of or among any of the Commitments, the Loans and Letter of Credit Participations are not permitted; and (ivc) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, Agent an Assignment and Acceptance, together with the Notes subject to such assignmenta processing and recordation fee of $3,500, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of Assignee, if it shall not be a Lender) , shall pay deliver to the Administrative Agent a $3,500 administrative feean Administrative Questionnaire. Upon such execution, delivery, Subject to acceptance and recordingrecording thereof by the Administrative Agent pursuant to §17.3, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee Eligible Assignee thereunder shall be a party hereto for all purposes to this Agreement and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and Acceptance, have the rights and obligations of a Lender hereunder under this Agreement, and (B) such the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been of the interest assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or of the remaining portion of such assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto)) but shall continue to be entitled to the benefits of each of §§4.3, 4.4, 4.8, 4.9, 4.11, 13 and 14 with respect to facts and circumstances occurring prior to the effective date of such assignment. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this §17.2 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with §17.4.

Appears in 1 contract

Samples: Revolving Credit Agreement (Telephone & Data Systems Inc /De/)

Assignments. Any Lender may may, with the prior written consents of ----------- Issuing Bank and Agent and (so long as no Event of Default exists) Borrower (which consents shall not be unreasonably delayed or withheld and, in any event, shall not be required for an assignment by a Lender to one of its Affiliates), at any time assign and delegate to one or more Eligible Assignees commercial banks or other Persons (any Person to whom such an assignment and delegation is to be made being herein called an "Assignee") all or any portion fraction of its rights such Lender's Loans and obligations under this Agreement Commitment -------- (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, which assignment and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment delegation shall be of a constant, and not a varying, percentage of such all the assigning Lender’s rights 's Loans and obligations assigned under this Agreement and shall be an Commitment) in a minimum aggregate amount equal percentage with respect to both its obligations owing in respect the lesser of the Commitments and the related Advances and Letters of Credit, (iii) the amount of the Commitments assigning Lender's Pro Rata Share of the Revolving Commitment and Advances (ii) $5,000,000; provided that -------- (a) no assignment and delegation may be made to any Person if, at the time of such Lender being assigned pursuant assignment and delegation, Borrower would be obligated to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall bepay any greater amount under Sections 2.18, if to an entity other than a Lender2.20, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof2.21, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver or 2.22 to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject Assignee than Borrower is ---------------------------------- then obligated to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative assigning Lender under such Sections (and if any assignment is made in violation of the foregoing, Borrower will not be required to pay the incremental amounts) and (b) Borrower, the Guarantors and Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after entitled to continue to deal solely and directly with such Lender in connection with the execution thereof, (A) interests so assigned and delegated to an Assignee until the assignee thereunder date when all of the following conditions shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto).met:

Appears in 1 contract

Samples: Loan and Security Agreement (Material Sciences Corp)

Assignments. (a) Any Lender may (an "Assignor") may, in ----------- -------- accordance with applicable law, at any time and from time to time assign to one any Eligible Assignee, with the consent of the Administrative Agent and, except at any time a Default or more Eligible Assignees Event of Default shall have occurred and be continuing, the Borrower (which, in each case, shall not be unreasonably withheld or delayed), all or any portion part of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each a Lender Assignment Agreement, executed by such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties such Assignor and any other Person whose consent is required pursuant to each such assignment shall execute this paragraph, and deliver delivered to the Administrative Agent, Agent for its acceptance and recording in the Register, ; provided that no such assignment to an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible -------- Assignee (other than any Lender or any affiliate thereof) shall be in an aggregate principal amount of less than $10,000,000 (other than in the Eligible Assignee case of an assignment of all of a Lender's interests under this Agreement), unless otherwise agreed by the Borrower and the Administrative Agent or and; provided, -------- further, that after giving effect to any such assignment the assigning Lender ------- shall have Commitments remaining of at least $10,000,000 in the aggregate amount (other than in the case of an Affiliate assignment of all of a Lender) shall pay to 's interests under this Agreement). Any such assignment need not be ratable as among the Administrative Agent a $3,500 administrative fee364-Day Term Loans, the Construction Term Loans and the Revolving Loans. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each determined pursuant to such Lender Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereofAgreement, (Ax) the assignee Eligible Assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to provided in such Lender Assignment and AcceptanceAgreement, have the rights and obligations of a Lender hereunder with a Term Loan Commitment or Revolving Loan Commitment, as the case may be, and/or Loans as set forth therein, and (By) such Lender the Assignor thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to provided in such Lender Assignment and AcceptanceAgreement, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an a Lender Assignment and Acceptance Agreement covering all or the remaining portion of such Lender’s an Assignor's rights and obligations under this Agreement, such Lender Assignor shall cease to be a party hereto). Notwithstanding any provision of this Section 11.11.1 the consent of the --------------- Borrower shall not be required for any assignment that occurs when a Default or an Event of Default pursuant to Section 9.1.6 shall have occurred and be ------------- continuing with respect to the Borrower.

Appears in 1 contract

Samples: Execution Copy Credit Agreement (Edison Mission Energy)

Assignments. Any Lender may Each Bank may, from time to time, with the consent of the Agent (which will not be unreasonably withheld) and upon notice to the Borrower, assign to one or more Eligible Assignees all or any other financial institutions part (but in no event less than $10,000,000) of the indebtedness evidenced by the Notes then owned by it together with an equivalent proportion of its obligation to make Loans hereunder pursuant to written agreements executed by the assignor, the assignee and the Borrower, which agreements shall specify in each instance the portion of its rights the indebtedness evidenced by the Notes which is to be assigned to each such assignee and obligations under this Agreement (including, without limitation, all or a the portion of its Commitmentsthe Commitments of the assignor to be assumed by it (the “Assignment Agreements”). Upon the execution of each Assignment Agreement by the assignor, the Advances owing to it, the Notes held by it, assignee and the participation interest in the Letter of Credit Obligations held by it); provided, however, that Borrower (i) each such assignment assignee shall be thereupon become a “Bank” for all purposes of a constantthis Agreement with Commitments in the amounts set forth in such Assignment Agreement and with all the rights, and not a varying, percentage of such Lender’s rights powers and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Creditafforded a Bank hereunder, (ii) the amount assignor shall have no further liability for funding the portion of the its Commitments assumed by such other Bank and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment no other liability hereunder and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each the address for notices to such assignment Bank shall be as specified in the Assignment Agreement executed by it. Concurrently with the execution and delivery of such Assignment Agreement, and, upon return to an Eligible Assigneethe Borrower of the outstanding Notes of the assignor, (iv) the parties to each such assignment Borrower shall execute and deliver Notes to the Administrative Agent, for its acceptance and recording assignee Bank in the Register, an Assignment amount of its Commitments and Acceptance, together with new Notes to the Notes subject assignor Bank in the amount of its Commitments after giving effect to the reduction occasioned by such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay all such Notes to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto constitute “Notes” for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

Appears in 1 contract

Samples: Revolving Credit Agreement (World Acceptance Corp)

Assignments. (a) Any Lender may assign to one or more Eligible Assignees all or any a portion of its rights and obligations under this Agreement (including, without limitation, including all or a portion of its CommitmentsCommitment and the Loans (including in all instances for purposes of this subsection (a), participations in L/C Obligations) at the Advances time owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, provided that (i) except in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at the time owing to it or in the case of an assignment to a Lender or an Affiliate of a Lender, the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder, including as noted above, participations in L/C Obligations) subject to each such assignment, determined as of the date the Lender Assignment with respect to such assignment is delivered to the Administrative Agent, shall not be less than $5,000,000 unless each of the Administrative Agent and, so long as no Default has occurred and is continuing and so long as in the case of The Bank of Nova Scotia, such Lender shall have been reduced to its “final hold amount” as described in the commitment letter referred to in the Agent and Arranger Fee Letter, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed), (ii) each partial assignment shall be made as an assignment of a constant, and not a varying, percentage proportionate part of such all the assigning Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and Loans or the related Advances and Letters of CreditCommitment assigned, except that this clause (ii) the amount shall not prohibit any Lender from assigning all or a portion of the Commitments its rights and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than obligations among separate Borrowings on a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereofnon-pro rata basis, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative AgentAgent a Lender Assignment, for its together with a processing and recordation fee of $3,500. Subject to acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of thereof by the Administrative Agent or an Affiliate pursuant to subsection (c) of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recordingthis Section, from and after the effective date specified in each Assignment and AcceptanceLender Assignment, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee Eligible Assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and AcceptanceLender Assignment, have the rights and obligations of a Lender hereunder under this Agreement, and (B) such the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been of the interest assigned by it pursuant to such Assignment and AcceptanceLender Assignment, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Lender Assignment and Acceptance covering all or of the remaining portion of such assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party heretohereto but shall continue to be entitled to the benefits of Sections 3.7, 10.4 and 10.5). Upon request, the Borrower (at its expense) shall execute and deliver new or replacement Notes to the assigning Lender and the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with subsection (d) of this Section.

Appears in 1 contract

Samples: Credit Agreement (Bois D Arc Energy, Inc.)

Assignments. Any Each Lender may assign to one or more Eligible Assignees all or any a portion of its rights and obligations under this Agreement (includinghereunder, without limitation, all or a portion of its Commitments, the Advances owing pursuant to it, the Notes held by it, and the participation interest an assignment agreement substantially in the Letter form of Credit Obligations held by itSchedule 10.3(b), to (i) any Lender or any Affiliate or Subsidiary of a Lender, or (ii) any other commercial bank, financial institution or "accredited investor" (as defined in Regulation D of the Securities and Exchange Commission) that is reasonably acceptable to the Administrative Agent and, so long as no Default or Event of Default has occurred and is continuing, is reasonably acceptable to the Borrower; provided, however, provided that (i) any such assignment (other than any assignment to an existing Lender) shall be in a minimum aggregate amount of $5,000,000 (or, if less, the remaining amount of the Commitment being assigned by such Lender) of the Commitments and in integral multiples of $1,000,000 above such amount, (ii) so long as no Event of Default has occurred and is continuing, no Lender shall assign more than 50% of such Lender's original Revolving Commitment without the written consent of the Borrower and (iii) each such assignment shall be of a constant, and not a varying, percentage of all such Lender’s 's rights and obligations assigned under this Agreement and Credit Agreement. Any assignment hereunder shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay effective upon delivery to the Administrative Agent of written notice of the assignment together with a transfer fee of $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, payable to the Administrative Agent for its own account from and after the later of (i) the effective date specified in each Assignment the applicable assignment agreement and Acceptance(ii) the date of recording of such assignment in the Register pursuant to the terms of subsection (c) below. The assigning Lender will give prompt notice to the Administrative Agent and the Borrower of any such assignment. Upon the effectiveness of any such assignment (and after notice to, which effective date and (to the extent required pursuant to the terms hereof), with the consent of, the Borrower as provided herein), the assignee shall become a "Lender" for all purposes of this Credit Agreement and the other Credit Documents and, to the extent of such assignment, the assigning Lender shall be at least three Business Days after relieved of its obligations hereunder to the execution extent of the Loans and Commitment components being assigned. Along such lines the Borrower agrees that upon notice of any such assignment and surrender of the appropriate Note or Notes, it will promptly provide to the assigning Lender and to the assignee separate promissory notes in the amount of their respective interests substantially in the form of the original Note (but with notation thereon that it is given in substitution for and replacement of the original Note or any replacement notes thereof). By executing and delivering an assignment agreement in accordance with this Section 10.3(b), (A) the assigning Lender thereunder and the assignee thereunder shall be a party deemed to confirm to and agree with each other and the other parties hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and as follows: (Bi) such assigning Lender thereunder shallwarrants that it is the legal and beneficial owner of the interest being assigned thereby free and clear of any adverse claim; (ii) except as set forth in clause (i) above, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Credit Agreement, any of the extent that rights and obligations hereunder have been assigned other Credit Documents or any other instrument or document furnished pursuant hereto or thereto, or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto or the financial condition of the Borrower or any of its respective Affiliates or the performance or observance by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from the Borrower of any of its obligations under this Agreement Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto; (andiii) such assignee represents and warrants that it is legally authorized to enter into such assignment agreement; (iv) such assignee confirms that it has received a copy of this Credit Agreement, the other Credit Documents and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such assignment agreement; (v) such assignee will independently and without reliance upon the Administrative Agent, such assigning Lender or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in the case of an Assignment and Acceptance covering all taking or the remaining portion of such Lender’s rights and obligations not taking action under this AgreementCredit Agreement and the other Credit Documents; (vi) such assignee appoints and authorizes the Administrative Agent to take such action on its behalf and to exercise such powers under this Credit Agreement or any other Credit Document as are delegated to the Administrative Agent by the terms hereof or thereof, together with such Lender shall cease powers as are reasonably incidental thereto; and (vii) such assignee agrees that it will perform in accordance with their terms all the obligations which by the terms of this Credit Agreement and the other Credit Documents are required to be performed by it as a party hereto)Lender. If the assignee is not a United States person under Section 7701(a)(30) of the Code, it shall deliver to the Borrower and the Administrative Agent a valid certification as to exemption from deduction or withholding of taxes in accordance with Section 3.10.

Appears in 1 contract

Samples: Credit Agreement (Autozone Inc)

Assignments. Any Lender may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, it and the participation interest in the Letter of Credit Obligations Subordinated Notes held by it); provided, however, provided that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof5,000,000.00, (iiiii) each such assignment shall be to an Eligible Assignee, (iviii) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Subordinated Notes subject to such assignment, and (viv) each Eligible Assignee (other than the an Eligible Assignee of the Administrative Agent that is a Lender or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereofthereof unless otherwise waived by the Agent in its sole discretion, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

Appears in 1 contract

Samples: Subordinated Credit Agreement (Brigham Exploration Co)

Assignments. Any Lender may assign to one or more Eligible Assignees all (a) All or any portion part of its rights and obligations the interest of any Participant Interest Party in, to or under this Agreement (including, without limitation, all or a portion of its CommitmentsTransaction Agreement, the Advances owing to itother Operative Documents, the Notes held Leased Property or the Participant Interest Contributions may be assigned or transferred by it, and the participation interest in the Letter of Credit Obligations held by it)such Participant Interest Party at any time to any Person; provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of all such Lender’s rights and obligations assigned under this the Participation Agreement and shall be an equal percentage with respect (if applicable to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, such Participant Interest Party); (ii) unless both parties to the assignment are Participants immediately prior to giving effect to the assignment, the amount of the Commitments and Advances Commitment of such Lender the assigning Participant Interest Party being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not be less than $5,000,000 10,000,000.00 (or if less, the entire amount of such Participant’s Commitment) and shall be an integral multiple of $1,000,000 in excess thereof10,000,000.00 (or such Participant’s entire Commitment), (iii) each such assignment shall be to an Eligible Assignee, (iv) the Administrative Agent shall have received from the assignee/transferee or the assignor/transferor a transfer fee in the amount of $3,500.00, (v) each assignee or transferee shall have complied, as of the date of the transfer, with the delivery requirements of Section 12.3; (vi) if the assignment occurs prior to the end of the Commitment Period, the assignor shall concurrently assign to the assignee that percentage of its Commitment set forth in Schedule II hereto; (vii) each assignee or transferee shall (A) acknowledge in writing, addressed and delivered to each of the parties to each this Transaction Agreement, that the obligations to be performed by the assignor or transferor from and after the date of such transfer or assignment shall execute under this Transaction Agreement and all other Operative Documents are its obligations, including the obligations imposed by this Section 12.1(a), (B) deliver to the Lessee, the Administrative Agent and the Lessor an Assignment Agreement, in substantially the form of Exhibit E, each executed by the assignee or transferee and (C) represent and warrant to Lessor, the Administrative Agent, for its acceptance each other Participant and recording the Lessee in writing each of the representations and warranties as set forth in Section 8.1 and that it has the requisite power and authority to accept such assignment or transfer and engage in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, Overall Transaction and (vviii) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder required in the definition of “Eligible Assignee”, Lessee shall have been assigned provided its written consent (not to it pursuant to such Assignment and Acceptance, have be unreasonably withheld or delayed) which consent shall not be required during the rights and obligations existence of a Lender hereunder and (B) Default or Event of Default. Any transfer or assignment made in violation of the above requirements shall not be effective against the other parties to this Transaction Agreement until such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto)requirements are satisfied.

Appears in 1 contract

Samples: Transaction Agreement (Corning Inc /Ny)

Assignments. Any Lender Bank may assign to one or more Eligible Assignees financial institutions or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, and the Notes held by it(including its Commitment, Advances, and the participation interest in the Letter Letters of Credit Obligations held by itCredit); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of all of such Lender’s Bank's rights and obligations assigned under this Agreement and assignments thereof shall be an equal percentage with respect to both its obligations owing made in respect of the Commitments and the related Advances and Letters of Credit5% increments, (ii) the amount after giving effect to such assignment each Bank shall retain at least 20% of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereofCommitments, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a LenderAgent) shall pay to the Administrative Agent a $3,500 2,500 administrative fee. Upon such execution, delivery, acceptance acceptance, and recording, from and after the effective date specified in each Assignment and Acceptance, Acceptance (which effective date shall be at least three Business Days after the execution thereof, ): (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it the assignee pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender Bank hereunder and (B) such Lender the assignor Bank thereunder shall, to the extent that rights and obligations hereunder have been assigned by it the assignor Bank pursuant to such Assignment and Acceptance, relinquish its the assignor Bank's rights and be released from its the assignor Bank's obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s assignor Bank's rights and obligations under this Agreement, such Lender assignor Bank shall cease to be a party hereto).

Appears in 1 contract

Samples: Credit Agreement (Core Laboratories N V)

Assignments. Any Lender may Subject to the further provisions of this Section 10.08(a), any Bank may, with the written consent of the Agent, which consent shall not be unreasonably withheld, at any time assign and delegate to one or more Eligible Assignees all (provided that no written consent of the Agent shall be required in connection with any assignment and delegation by a Bank to a Bank Affiliate of such Bank) (each an "Assignee") all, or any portion ratable part of its rights and obligations under this Agreement (includingall, without limitationof the Loans, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); providedLiability, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances other rights and Letters obligations of Creditsuch Bank hereunder, in a minimum amount of $5,000,000 and in additional increments of $250,000 so long as such Bank concurrently transfers to such Assignee the same proportionate share of its interests and obligations with respect to Commitment under (iiand as such term is defined in) the amount of Bridge Loan Agreement) PROVIDED, HOWEVER, that the Commitments Company and Advances the Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (a) written notice of such Lender being assigned pursuant assignment, together with payment instructions, addresses and related information with respect to each the Assignee, shall have been given to the Company and the Agent by such assignment Bank and the Assignee; (determined as of b) such Bank and its Assignee shall have delivered to the date of Company and the Agent an Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an form of EXHIBIT K ("Assignment and Acceptance, ") together with the any Note or Notes subject to such assignment; (c) such Bank shall have paid to the Agent, for its own account, an assignment fee in the amount of $1500, if the Assignee is a Bank (without giving effect to the Assignment), and $3000 in all other cases; and (vd) each Eligible Assignee (other than such Bank shall have delivered to the Eligible Assignee Agent such documents as may be required by Section 3.01(f). Any such assignment requiring the approval of the Administrative Agent shall also require the approval of the Company (such approval not to be unreasonably withheld or an Affiliate delayed), provided that the Company's failure to approve or disapprove such assignment within five days' after receiving written notice thereof shall be deemed approval by the Company of such assignment, and provided further, that no such approval from the Company shall be required during the continuation of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations Default or Event of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto)Default.

Appears in 1 contract

Samples: Credit Agreement (Apartment Investment & Management Co)

Assignments. Any Lender may may, with the prior written consent of the Administrative Agent and the Borrower (which consents shall not be unreasonably withheld, delayed or conditioned, and shall not be required (A) in the case of the Borrower, during the existence of an Event of Default or Unmatured Event of Default or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund and (B) in the case of the Administrative Agent, in the case of the assignment to a Lender, an Affiliate of a Lender or an Approved Fund), at any time assign and delegate to one or more Eligible Assignees (any Person to whom such an assignment and delegation is to be made, an “Assignee”), all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage fraction of such Lender’s rights and obligations assigned under this Agreement and shall be Loans in a minimum aggregate amount (in the case of an assignment to an Assignee other than a Lender hereunder or an Approved Fund) equal percentage with respect to both its obligations owing in respect the lesser of the Commitments and the related Advances and Letters of Credit, (iii) the amount of the Commitments assigning Lender’s remaining Loans and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignmentii) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment assignment to a Lender, an Affiliate of a Lender or an Approved Fund, $1,000,000, or such lesser amount as the Administrative Agent and, so long as no Event of Default exists, the Borrower, may agree in their discretion); provided that 9.3.1.1 no assignment and Acceptance covering all or delegation may be made to any Person if, at the remaining portion time of such Lender’s rights assignment and obligations delegation, the Borrower would be obligated to pay any greater amount under this AgreementSection 7.6 or Section 8 to the Assignee than the Borrower is then obligated to pay to the assigning Lender under such Sections (and if any assignment is made in violation of the foregoing, the Borrower will not be required to pay the incremental amounts), and (b) the Borrower and the Administrative Agent shall be entitled to continue to deal solely and directly with such Lender in connection with the interests so assigned and delegated to an Assignee until the date when all of the following conditions shall cease to be a party hereto).have been met:

Appears in 1 contract

Samples: Term Loan Agreement (Green Plains Inc.)

Assignments. Any Lender may assign to one or more Eligible Assignees all (a) All or any portion part of its rights and obligations the interest of any Lender in, to or under this Agreement (including, without limitation, all or a portion of its CommitmentsParticipation Agreement, the Advances owing to itother Operative Documents, the Notes held Leased Property and its Notes, Loans and Commitment may be sold, assigned or transferred by it, and the participation interest in the Letter of Credit Obligations held by it)such Lender at any time to any Person; provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of all such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Creditbeing assigned, (ii) unless both parties to the assignment are Participants immediately prior to giving effect to the assignment, the amount of the Commitments and Advances Commitment of such Lender the assigning Lenders being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not be less than $5,000,000 1,000,000 (or if less, the entire amount of such Lender’s Commitment) and shall be an integral multiple of $1,000,000 in excess thereof100,000 (or such Lender’s entire Commitment), (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment Lessor shall execute and deliver to have received from the Administrative Agent, for its acceptance and recording assignee/transferee or the assignor/transferor a transfer fee in the Registeramount of $1,500, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee assignee or transferee shall have complied, as of the Administrative Agent date of the transfer or an Affiliate assignment, with the delivery requirements of a LenderSection 12.3(a), and (vi) each assignee or transferee shall pay (A) acknowledge in writing, addressed and delivered to each of the Administrative Agent a $3,500 administrative fee. Upon such executionparties to this Participation Agreement, delivery, acceptance and recording, that the obligations otherwise to be performed by the assignor or transferor from and after the effective date specified of such transfer or assignment under this Participation Agreement and all other Operative Documents are its obligations, including the obligations imposed by this Section 12.1(a) (and the transferor and transferee Lender shall deliver to the Lessee, the Collateral Agent and the Lessor an Assignment Agreement, in each Assignment and Acceptancesubstantially the form of Exhibit D, which effective date shall be at least three Business Days after the execution thereof, (A) executed by the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder or transferee) and (B) such Lender thereunder shallrepresent and warrant to Collateral Agent, to each Participant and the extent that rights Lessee in writing each of the representations and obligations hereunder have been assigned by it pursuant to such Assignment warranties as set forth in Section 8.1 and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto).that:

Appears in 1 contract

Samples: Participation Agreement (Silicon Laboratories Inc)

Assignments. Any Lender may may, in the ordinary course of its commercial lending business and in accordance with applicable law, at any time and from time to time, with the consent of the Issuing Lenders (which consent shall not be unreasonably withheld or delayed) assign to one any Lender or more Eligible Assignees any Affiliate thereof or, with the consent of the Borrower, the Administrative Agent, the Issuing Lenders and the Swingline Lenders (which consent of the Borrower, the Administrative Agent, the Issuing Lenders and the Swingline Lenders shall not be unreasonably withheld or delayed and which consent shall not be required from the Borrower during the continuation of an Event of Default and shall be deemed given if the Borrower has not objected thereto within fifteen Business Days of notice thereof), to an additional bank or financial institution (an “Assignee”) all or any portion part of its rights and obligations under this Agreement and the other Loan Documents pursuant to an Assignment and Assumption, substantially in the form of Exhibit E (includingan “Assignment and Assumption”), without limitationexecuted by such Assignee, all or a portion of its Commitments, the Advances owing to it, the Notes held by itsuch assigning Lender, and (to the participation interest in the Letter of Credit Obligations held extent required by it); provided, however, that (ithis paragraph) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, the Issuing Lender and the Swingline Lenders (and, in the case of an Assignee that is not then a Lender or an Affiliate thereof, by the Borrower) and delivered to the Administrative Agent for its acceptance and recording in the Register, provided that, in the case of any such assignment to an Assignment and Acceptanceadditional bank or financial institution, together with (i) the Notes subject to such assignment, and sum (vwithout duplication) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or aggregate principal amount of the Commitments and Exposure being assigned shall not be less than $10,000,000 (or, if such Assignee is an Affiliate of a Lender) shall pay , $5,000,000, or such lesser amount as may be agreed to by the Borrower and the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (AAgent) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party heretoii).

Appears in 1 contract

Samples: Credit Agreement

Assignments. Any Lender Each Bank may (and if requested by Borrower pursuant to Section 11.07 upon at least 20 Business Days' notice to such Bank will) assign to one or more Eligible Assignees Banks or other entities all or any a portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, Commitment and the Advances Syndicated Loans owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (ia) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s all rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (iiother than any Bid Loans) b) the amount of the Commitments and Advances Commitment of such Lender the assigning Bank being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other in no event be less than a Lender, not 50% of all such rights and obligations of the Assignor or less than $5,000,000 10,000,000 (in aggregate outstandings and unused Commitment) and shall be an integral multiple of $1,000,000 in excess thereof; provided however, (iiia Bank which cannot satisfy the above-described requirements may assign all of its Commitment, c) each such assignment shall be to an Eligible AssigneeAssignee and shall require the prior consent of Borrower (not unreasonably withheld); provided, (ivthat, only prior notice to the Borrower need be given if such assignment is made to an Affiliate of the assignor or to another Bank hereunder, d) each such assignment made as a result of a demand by Borrower pursuant to Section 11.07 shall be arranged by Borrower at its expense, and shall be either an assignment of all of the rights and obligations of the assigning Bank under this Agreement or an assignment of a portion of such rights and obligations made concurrently with one or more other such assignments which together cover all of the rights and obligations of the assigning Bank under this Agreement, e) no Bank shall be obligated to make any such assignment as a result of a demand by the Borrower pursuant to Section 11.07 unless and until such Bank shall have received one or more payments from either Borrower or one or more Eligible Assignees in an aggregate amount at least equal to the aggregate outstanding principal amount of the Loans then owing to such Bank, together with accrued interest thereon to the date of payment of such principal amount and all other amounts then due and payable to such Bank under this Agreement, and f) the parties to each such assignment shall execute and deliver to the Administrative Agent, Agent for its acceptance and recording in the Register, Register (as defined in Section 2.10(b)) an Assignment and Acceptance, together with the Notes Revolving Note subject to such Assignment and Acceptance, and a processing and recordation fee of $3,500. Upon its receipt of an Assignment and Acceptance executed by an Assigning Lender and Assignee representing that it is an Eligible Assignee, together with the Revolving Note subject to such assignment, Agent shall, if such Assignment and Acceptance has been completed and is in substantially the form of Exhibit I hereto, (i) accept such Assignment and Acceptance, (ii) record the information contained therein in the Register, and (viii) give prompt written notice thereof to the Borrower. Within five Business Days after its receipt of such notice, the Borrower, at its expense, shall execute and deliver to the Agent in exchange for each surrendered Revolving Note evidencing the Loans, a new Revolving Note evidencing such Loans payable to the order of such Eligible Assignee (other than in an amount equal to such Loans assigned to it and, if the Eligible Assignee Assigning Lender has retained any Loans, a new Revolving Note evidencing each such Loans payable to the order of the Administrative Agent or an Affiliate Assigning Lender in the amount of such Loans retained by it (each such promissory note shall constitute a Lender) "Revolving Note" for purposes of the Loan Documents). Such new Revolving Notes shall pay to be dated the Administrative Agent a $3,500 administrative feeeffective date of such Assignment and Acceptance and shall otherwise be in substantially the form of Exhibit A hereto. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (Ax) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender Bank hereunder and (By) such Lender the Bank assignor thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s an assigning Bank's rights and obligations under this Agreement, such Lender Bank shall cease to be a party hereto). Notwithstanding any other provision to the contrary contained in this Agreement, any Bank may, without the consent of the Borrower, assign all or a portion of its rights under this Agreement and any notes which may be issued hereunder to a Federal Reserve Bank as collateral in accordance with Regulation A of the Board of Governors of the Federal Reserve System and the applicable operating circular of such Federal Reserve Bank. 1. Bid Loans. Each Bank may assign to or participate with one or more banks or other entities any Bid Loans held by it without regard to the restrictions placed on assignments elsewhere in this Section 11.08; provided, that, any participation shall be made in accordance with subsection (d) hereof and provided, further, that any assignee of a Bid Loan that is not then a Bank hereunder shall not be entitled to demand any payments under Sections 9.03, 9.04 and 11.03 hereof and shall have no voting rights or other rights of a Bank hereunder other than the right to demand and receive interest and principal payments at the times when due with respect to the Bid Loans owned by it. 2.

Appears in 1 contract

Samples: Credit Agreement (Coors Adolph Co)

Assignments. Any Lender may assign to one or more Eligible Assignees all or any a portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Loans and its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that that: (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible AssigneeAssignee who, unless otherwise consented to by the Borrower, is not a Competitor of the Borrower; (ivii) except in the case of an assignment to another Lender, an Affiliate of an existing Lender or any Approved Fund (A) the aggregate amount of the Commitment of the assigning Lender subject to such assignment (determined as of the date the Assignment and Acceptance with respect to such assignment is delivered to the Agent) shall not, without the consent of the Borrower and the Agent, be less than $5,000,000 and an integral multiple of $1,000,000 (or such other amount as shall equal the assigning Xxxxxx’s entire Commitment) and (B) after giving effect to such assignment, unless otherwise consented to by the Borrower, the aggregate amount of the Commitment and/or Loans of the assigning Lender shall not be less than $2,500,000 (unless the assigning Lender shall have assigned its entire Commitment and/or the entire balance of the outstanding Loans); and (iii) the parties to each such assignment shall execute and deliver to the Administrative Agent, Agent for its acceptance and recording in the Register, an Assignment and AcceptanceAcceptance in the form of Exhibit C, together with the Notes any Note subject to such assignmentassignment and a processing fee of $3,500, payable or agreed between the assigning Lender and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay assignee; provided further, however, notwithstanding anything to the Administrative Agent contrary contained herein, upon the occurrence and during the continuance of an Event of Default hereunder, any Lender may assign all or a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations portion of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement in accordance with clause (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party heretoiii) above. (c).

Appears in 1 contract

Samples: Warehouse Loan Agreement (Trinity Industries Inc)

Assignments. Any Lender may assign to another Lender or an Approved Affiliate all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and 97 Xxxxx Energy Partners, L.P. 3rd Amended/Restated Credit Agreement the participation interest in the Letter of Credit Obligations held by it) without the Borrower’s consent and without any minimum assignment amount. Additionally, any Lender may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of CreditAgreement, (ii) the amount of the Commitments Commitments, Advances, and Advances participation interest in the Letter of Credit Obligations of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 5,000,000.00 and shall be an integral multiple of $1,000,000 in excess thereof1,000,000.00 (unless the Borrower and Administrative Agent otherwise consent), (iii) each such assignment shall be to an Eligible AssigneeAssignee or an Approved Affiliate, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, (v) the assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire, and (vvi) each Eligible Assignee or Approved Affiliate (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a LenderAgent) shall pay to the Administrative Agent a $3,500 administrative fee. Additionally, the consent of the Issuing Banks (such consent not to be unreasonably withheld, conditioned or delayed) shall be required for any assignment that increases the obligation of the assignee to participate in exposure under one or more Letters of Credit (whether or not then outstanding). Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto). In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable Pro Rata Share of Advances previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full Pro Rata Share of all Advances and participations in Letters of Credit. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.

Appears in 1 contract

Samples: Credit Agreement (Holly Energy Partners Lp)

Assignments. This Agreement shall be binding upon, and inure to the benefit of, the Borrowers and each of the Creditors and their respective successors and assigns, except that the Borrowers may not assign any of their rights or obligations hereunder without the prior written consent of the Lenders. Any Lender may assign to one or more Eligible Assignees all or any portion parts of its rights and obligations under this Agreement to any one or more financial institutions approved by the Borrowers; provided, however, (i) that no consent of the Borrowers shall be required if a Default has occurred and is continuing at the time of such assignment; (ii) that no such consent shall be required if the assignee is, immediately prior to such assignment, an Affiliate of the assigning Lender (the expenses of any Lender in connection with any such assignment shall be for its own account); (iii) that no Borrower shall be required to pay any amount under Sections 6.1 or 11 that is greater than the amount which it would have been required to pay had no such assignment been made; (iv) that any assignment shall be made pursuant to an Assignment and Assumption Agreement substantially in the form of Exhibit A hereto; and (v) that, in the case of a partial assignment by any Lender of its rights and obligations hereunder, unless such assignment is to another Lender or Affiliate of a Lender, the minimum amount which may be assigned shall be $5,000,000 and, after giving effect to any such assignment, each such assigning Lender's pro rata portion of the Commitments and the Advances shall aggregate not less than $10,000,000; unless, in each case, otherwise agreed by the Borrowers . The Borrowers will take all reasonable actions requested by the Lenders to effect any such assignment, including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be execution of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant written consent to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Assumption Agreement, such Lender shall cease to be a party hereto).

Appears in 1 contract

Samples: Credit Agreement (Overseas Shipholding Group Inc)

Assignments. Any Lender Bank may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances Loans owing to it, and the Notes held by it) with the consent, not to be unreasonably withheld, of the Administrative Agent and, so long as no Default under Section 8.01(a) or (e) has occurred and is continuing, the participation interest in the Letter of Credit Obligations held by it)Borrower; provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments resulting Loans of the assigning Bank (unless it is assigning all its Loans) and Advances of such Lender being assigned the assignee Bank pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not in no event be less than $5,000,000 10,000,000 and shall be an integral multiple of $1,000,000 in excess thereof1,000,000, (iiiii) each such assignment shall be to an Eligible Assignee, (iviii) the parties to each such assignment shall execute and deliver to the Administrative Agent, Agent for its acceptance and recording in the Register, an Assignment and AcceptanceAssignment, together with the Note or Notes subject to such assignment, assignment and shall pay all legal and other expenses in respect of such assignment and (viv) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of not already a Lender) Bank hereunder shall pay to the Administrative Agent a an assignment fee of $3,500 administrative feein connection with such assignment. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and AcceptanceAssignment, which effective date shall be at least three (3) Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and AcceptanceAssignment, have the rights and obligations of a Lender Bank hereunder and (B) such Lender Bank thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and AcceptanceAssignment, relinquish its rights and be released from its obligations to lend under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such LenderBank’s rights and obligations under this Agreement, such Lender Bank shall cease to be a party hereto).

Appears in 1 contract

Samples: Term Loan Agreement (Brinker International Inc)

Assignments. Any In addition to the assignments permitted by Section 11.3(a), each Lender may may, with the prior written consent of the Borrowers, the Issuing Lenders and the Administrative Agent (provided that no consent of the Borrowers shall be required for an assignment to a Lender, an Affiliate of a Lender or an Approved Fund or during the existence and continuation of an Event of Default), which consent shall not be unreasonably withheld or delayed, assign to one or more Eligible Assignees all or any a portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing hereunder pursuant to it, the Notes held by it, and the participation interest an assignment agreement substantially in the Letter form of Credit Obligations held Exhibit 11.3 to one or more Eligible Assignees; provided that the Borrowers shall be deemed to have consented to any such assignment unless the Borrowers shall object thereto by it)written notice to the Administrative Agent within 10 Business Days after having received notice thereof; provided, however, and provided further that (i) any such assignment shall be in a minimum aggregate amount of $5,000,000 of the Commitments and in integral multiples of $1,000,000 above such amount (or the remaining amount of Commitments held by such Lender) unless the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consent, (ii) each such assignment shall be of a constant, and not a varying, percentage of such all of the assigning Lender’s rights and obligations under the Commitment being assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (iiiii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall beassignee, if to an entity other than it shall not be a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance Agent an Administrative Questionnaire in which the assignee designates one or more Persons to whom all syndicate-level information (which may contain material non-public information about the Borrowers and recording their related parties or DB1/ 97661265.5 their respective securities) will be made available and who may receive such information in the Register, an Assignment and Acceptance, together accordance with the Notes subject to such assignmentassignee’s compliance procedures and applicable laws, including Federal and (v) each Eligible Assignee (other than the Eligible Assignee state securities laws. Any assignment hereunder shall be effective upon satisfaction of the Administrative Agent or an Affiliate of a Lender) shall pay conditions set forth above and delivery to the Administrative Agent of a duly executed assignment agreement together with a transfer fee of $3,500 administrative feepayable to the Administrative Agent for its own account. Upon the effectiveness of any such assignment, the assignee shall become a “Lender” for all purposes of this Credit Agreement and the other Credit Documents and, to the extent of such assignment, the assigning Lender shall be relieved of its obligations hereunder to the extent of the Loans and Commitment components being assigned. The Borrowers agree that upon notice of any assignment to an assignee that was not theretofore a Lender, they will promptly provide to such assignee a new Note. Each Lender agrees that, in the event it assigns all of its Commitment hereunder, it shall promptly return the Note or Note(s) executed by the Borrowers in its favor. By executing and delivering an assignment agreement in accordance with this Section 11.3(b), the assigning Lender thereunder and the assignee thereunder shall be deemed to confirm to and agree with each other and the other parties hereto as follows: (i) such assigning Lender warrants that it is the legal and beneficial owner of the interest being assigned thereby free and clear of any adverse claim and the assignee warrants that it is an Eligible Assignee; (ii) except as set forth in clause (i) above, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto, or the execution, deliverylegality, validity, enforceability, genuineness, sufficiency or value of this Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto or the financial condition of any Borrower or its Subsidiaries or the performance or observance by any Credit Party of any of its obligations under this Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto; (iii) such assigning Lender and such assignee each represents and warrants that it is legally authorized to enter into such assignment agreement; (iv) such assignee confirms that it has received a copy of this Credit Agreement, the other Credit Documents and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such assignment agreement; (v) such assignee will independently and without reliance upon the Administrative Agent, such assigning Lender or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Credit Agreement and the other Credit Documents; (vi) such assignee appoints and authorizes the Administrative Agent to take such action on its behalf and to exercise such powers under this Credit Agreement or any other Credit Document as are delegated to the Administrative Agent by the terms hereof or thereof, together with such powers as are reasonably incidental thereto; and (vii) such assignee agrees that it will perform in accordance with their terms all the obligations which by the terms of this Credit Agreement and the other Credit Documents are required to be performed by it as a Lender. DB1/ 97661265.5 Subject to acceptance and recordingrecording thereof by the Administrative Agent pursuant to subsection (d) below, from and after the effective date specified in each Assignment and Acceptanceassignment agreement, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes to this Credit Agreement and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and Acceptanceassignment agreement, have the rights and obligations of a Lender hereunder under this Credit Agreement, and (B) such the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been of the interest assigned by it pursuant to such Assignment and Acceptanceassignment agreement, relinquish its rights and be released from its obligations under this Credit Agreement (and, in the case of an Assignment and Acceptance assignment agreement covering all or of the remaining portion of such assigning Lender’s rights and obligations under this Credit Agreement, such Lender shall cease to be a party hereto)) but shall continue to be entitled to the benefits of Sections 3.9, 3.12, 3.13 and 3.14 with respect to facts and circumstances occurring prior to the effective date of such assignment; provided, that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

Appears in 1 contract

Samples: Revolving Credit Agreement (Brandywine Operating Partnership, L.P.)

Assignments. Any Subordinated Lender may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this with respect to the Subordinated Loan Agreement (including, without limitation, all or a portion of its Commitments, including the Advances owing to it, the Notes Note held by it, and the participation interest in the Letter of Credit Obligations held by itits Commitment); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Subordinated Agent, for its acceptance and recording in the Register, an assignment and acceptance in form and substance reasonably satisfactory to the Subordinated Agent ("Assignment and Acceptance"), together with the Notes subject to such assignment, assignment and (vii) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) assignee shall pay to the Administrative Subordinated Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Subordinated Lender hereunder and (B) such Lender the assignor thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this the Subordinated Loan Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Subordinated Lender’s 's rights and obligations under this the Subordinated Loan Agreement, such Subordinated Lender shall cease to be a party hereto).

Appears in 1 contract

Samples: Subordinated Loan Agreement (Sierra Well Service Inc)

Assignments. Any Lender may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, including all or a portion of its Commitments, the Advances owing to it, it and the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of CreditAdvances, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance Assumption with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and AcceptanceAssumption, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a LenderAgent) shall pay to the Administrative Agent a $3,500 administrative fee (provided that the Administrative Agent may waive such fee). Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereofAssumption, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and AcceptanceAssumption, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and AcceptanceAssumption, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance Assumption covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto)) but shall continue to be entitled to the benefits of Sections 2.12, 2.13, 2.14, 9.04 and 9.07 with respect to facts and circumstances occurring prior to the effective date of such assignment; provided, that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (d) of this Section.

Appears in 1 contract

Samples: Credit Agreement (Callon Petroleum Co)

Assignments. Any Lender Bank may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of all of such Lender’s Bank's rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of CreditAgreement, (ii) the amount of the Commitments and Advances of such Lender Bank being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a LenderBank, not less than $5,000,000 5,000,000.00 and shall be an integral multiple of $1,000,000 in excess thereof1,000,000.00, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a LenderAgent) shall pay to the Administrative Agent a $3,500 3,500.00 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender Bank hereunder and (B) such Lender Bank thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s Bank's rights and obligations under this Agreement, such Lender Bank shall cease to be a party hereto).

Appears in 1 contract

Samples: Credit Agreement (Stone Energy Corp)

Assignments. Any Lender may assign to one or more Eligible Assignees all (a) All or any portion part of its rights and obligations the interest of any Lender in, to or under this Agreement (including, without limitation, all or a portion of its CommitmentsParticipation Agreement, the Advances owing to itother Operative Documents, the Leased Property or the Notes held may be assigned or transferred by it, and the participation interest in the Letter of Credit Obligations held by it)such Lender at any time to any Person; provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of all such Lender’s rights and obligations assigned under this the Loan Agreement and shall be an equal percentage with respect (if applicable to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, such Lender); (ii) unless both parties to the assignment are Participants immediately prior to giving effect to the assignment, the amount of the Commitments and Advances Loan Balance of such the assigning Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not be less than $5,000,000 5,000,000.00 (or if less, the entire amount of such Lender’s Loan Balance) and shall be an integral multiple of $1,000,000 in excess thereof5,000,000.00 (or the entire amount of such Lender’s Loan Balance), (iii) each such assignment shall be to an Eligible Assignee, (iv) the Lessor shall have received from the assignee/transferee or the assignor/transferor of a transfer fee in the amount of $1,000.00; (v) each assignee or transferee shall have complied, as of the date of the transfer, with the delivery requirements of Section 12.3(a); (vi) each assignee or transferee shall (A) acknowledge in writing, addressed and delivered to each of the parties to each this Participation Agreement, that the obligations to be performed by the assignor or transferor from and after the date of such transfer or assignment under this Participation Agreement and all other Operative Documents are its obligations, including the obligations imposed by this Section 12.1(a), the transferor and transferee Lender shall execute and deliver to the Lessee, the Guarantors, the Administrative Agent and the Lessor an Assignment Agreement, each executed by the assignee or transferee and (B) represent and warrant to Lessor, the Guarantors, the Administrative Agent, for its acceptance each other Participant and recording the Lessee in writing each of the representations and warranties as set forth in Section 8.1 and that it has the requisite power and authority to accept such assignment or transfer and engage in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, Overall Transaction; and (vvii) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, required in the case definition of “Eligible Assignee”, Lessee shall have provided its written consent (not to be unreasonably withheld or delayed) which consent shall not be required during the existence of an Assignment and Acceptance covering all Event of Default. Any transfer or assignment made in violation of the remaining portion of above requirements shall not be effective against the other parties to this Participation Agreement until such Lender’s rights and obligations under this Agreementrequirements are satisfied. Lessee shall not be responsible for any costs or expenses in connection with any such sale, such Lender shall cease to be a party hereto)assignment or other transfer.

Appears in 1 contract

Samples: Participation Agreement (Regeneron Pharmaceuticals Inc)

Assignments. Any Lender Bank may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its CommitmentsCommitment, the Advances owing to it, and the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of all of such Lender’s Bank's rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect involve a ratable assignment of the Commitments such Bank's Commitment and the related Advances and Letters of Creditsuch Bank's Advances, (ii) the amount of the Commitments resulting Commitment and Advances of such Lender being assigned the assigning Bank (unless it is assigning all its Commitment) and the assignee Bank pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not in no event be less than $5,000,000 10,000,000 and shall be an integral multiple of $1,000,000 in excess thereof1,000,000, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, (v) the consent of the Administrative Agent shall be required, which consent shall not be unreasonably withheld or delayed, except with respect to assignments to other Banks or an Affiliate of the assigning Bank, (vi) no such assignments shall be made to any Defaulting Lender or Potential Defaulting Lender or any of their respective subsidiaries, or any Person who, upon becoming a Bank hereunder, would constitute any of the foregoing Persons described in this clause, and (vvii) each Eligible Assignee (other than the an Eligible Assignee of the Administrative Agent or which is an Affiliate of a Lenderthe assigning Bank) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender Bank hereunder and (B) such Lender Bank thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s Bank's rights and obligations under this Agreement, such Lender Bank shall cease to be a party hereto). Notwithstanding anything herein to the contrary, any Bank may assign, as collateral or otherwise, any of its rights under the Credit Documents, including to any Federal Reserve Bank, and this Section shall not apply to any such assignment. In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment will be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Administrative Agent and, unless a Default has occurred and is continuing, the Borrower, which consent shall not be unreasonably withheld or delayed, the applicable pro rata share of Advances previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent and each other Bank hereunder (and interest accrued thereon), and (y) acquire (and fund as appropriate) its full pro rata share of all Advances. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder becomes effective under applicable law without compliance with the provisions of this paragraph, then the assignee of such interest will be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.

Appears in 1 contract

Samples: Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties)

Assignments. Any Lender may Each Bank shall have the right, subject to the further provisions of this Sections 12.3, to sell or assign to one or more Eligible Assignees all or any portion part of its Commitment, Loans, Note, and other rights and obligations under this Agreement and related documents (includingsuch transfer, without limitation, all or a portion an “Assignment”) to any of its Commitmentsaffiliates and to any commercial lender, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by itother financial institution or other entity (an “Assignee”); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such executionAssignment becoming effective as provided in Section 12.3(b), delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date assigning Bank shall be at least three Business Days after relieved from the execution thereofportion of the Commitments, (A) obligations to indemnify the assignee thereunder shall be a party hereto for all purposes and, Agent and other obligations hereunder to the extent that rights assumed and obligations hereunder have been assigned to it pursuant undertaken by the Assignee, and to such Assignment and Acceptance, extent the Assignee shall have the rights and obligations of a Lender hereunder “Bank” hereunder. Notwithstanding the foregoing, unless otherwise consented to by the Borrower and the Agent (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (andwhich consent, in the case of the Borrower, shall not be required if such assignment is to an affiliate of the assigning Bank or if an Event of Default has occurred and is continuing and, in any other case, shall not be unreasonably withheld or delayed by the Borrower or the Agent, as the case may be), each Assignment shall be in the initial principal amount of not less than $2,000,000 in the aggregate for all Loans and Acceptance covering all Commitments assigned, or an integral multiple of $1,000,000 if above such amount (or the remaining portion of such Lenderassigning Bank’s rights commitment, if less than $2,000,000). Each Assignment shall be documented by an agreement between the assigning Bank and obligations under this the Assignee (an “Assignment and Assumption Agreement, such Lender shall cease ”) in form and substance satisfactory to be a party hereto)the Agent.

Appears in 1 contract

Samples: Credit Agreement (American Equity Investment Life Holding Co)

Assignments. Any Lender may Each Bank may, upon at least five Banking Days' notice to the Administrative Agent and the Borrower assign to one or more Eligible Assignees financial institutions (an "Assignee") all or any a portion of its rights and obligations under this Agreement and its Note (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by itCommitment, and the participation interest in the Letter of Credit Obligations held by itLoans); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s the assigning Bank's rights and obligations under the relevant Commitment and Note being assigned under this Agreement and shall (it being understood that any such assignment need not be an equal percentage with respect to both its obligations owing in respect of a ratable share of the Commitments and Notes held by the related Advances and Letters of Creditassigning Bank), (ii) unless the Administrative Agent and the Borrower otherwise consent, the aggregate amount of the Commitments and Advances (without duplication) Loans of such Lender the assigning Bank being assigned pursuant to each such assignment to an assignee which is not then a Bank hereunder or an affiliate thereof (determined as of the date of the Assignment and Acceptance Agreement with respect to such assignment) shall be, if to an entity other than a Lender, not be less than $5,000,000 and, unless such assigning Bank is assigning its entire Term Loan Commitment and Revolving Credit Commitment, shall be an integral multiple not reduce the aggregate amount of the Commitments retained by such Bank to less than $1,000,000 in excess thereof5,000,000, (iii) each such assignment shall be to an Eligible Assigneea financial institution, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its approval, acceptance and recording in the Register, an Assignment and AcceptanceAcceptance Agreement, together with (except in the Notes subject case of any assignment made pursuant to Section 8.15, in which event no such assignmentfee shall be due) a processing and recordation fee of $3,500, and (v) each Eligible Assignee (other than except in the Eligible Assignee case of the Administrative Agent an assignment to an assignee which is a Bank or an Affiliate affiliate thereof or an assignment which is made when an Event of a Lender) Default is continuing, the Borrower shall pay consent to the Administrative Agent a $3,500 administrative feesuch assignment, which consent shall not be unreasonably withheld. Upon such execution, delivery, approval, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereofAcceptance Agreement, (Ax) the assignee Assignee thereunder shall be a party hereto for all purposes as a Bank and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and AcceptanceAcceptance Agreement, have the rights and obligations of a Lender Bank hereunder and (By) such Lender the Bank assignor thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and AcceptanceAcceptance Agreement, relinquish its rights and be released from its obligations under this Agreement and its Note (and, in the case of an Assignment and Acceptance Agreement, covering all or the remaining portion of such Lender’s an assigning Bank's rights and obligations under this AgreementAgreement and its Note, such Lender Bank shall cease to be a party hereto). Notwithstanding anything to the contrary contained herein, no Assignee shall be entitled to receive compensation under Section 8.12 or 8.13 hereof to the extent that circumstances giving rise to such payment were in effect on the date of the relevant assignment.

Appears in 1 contract

Samples: Credit Agreement (Computer Associates International Inc)

Assignments. Any Lender Bank may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement and the other Credit Documents (including, without limitation, all or a portion of its CommitmentsCommitment, the Advances owing to it, the Notes held by it, it and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of all of such Lender’s Bank's rights and obligations assigned under this Agreement and the other Credit Documents and shall be an equal percentage with respect to both its obligations owing in respect involve a ratable assignment of the Commitments such Bank's Commitment and the related Advances and Letters of Creditsuch Bank's Revolving Advances, (ii) the amount of the Commitments resulting Commitment and Revolving Advances of such Lender being assigned the assigning Bank (unless it is assigning all its Commitment) and the assignee Bank pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not in no event be less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof1,000,000, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes Revolving Note subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Eligible Assignee which is an Affiliate of a Lenderthe assigning Bank) shall pay to the Administrative Agent a $3,500 3,000 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereofthereof unless otherwise agreed by the parties to such Assignment and Acceptance and the Agent, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender Bank hereunder and (B) such Lender Bank thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s Bank's rights and obligations under this Agreement, such Lender Bank shall cease to be a party hereto). Notwithstanding anything herein to the contrary, any Bank may assign, as collateral or otherwise, any of its rights under the Credit Documents to any Federal Reserve Bank.

Appears in 1 contract

Samples: Credit Agreement (Arkansas Best Corp /De/)

Assignments. Any Lender Bank may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its CommitmentsRevolving Commitment, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of all of such Lender’s Bank's rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect involve a ratable assignment of the Commitments such Bank's Revolving Commitment and the related Advances and Letters of Creditsuch Bank's Revolving Advances, (ii) the amount of the Commitments resulting Revolving Commitment and Revolving Advances of such Lender being assigned the assigning Bank (unless it is assigning all its Revolving Commitment) and the assignee Bank pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not in no event be less than $5,000,000 10,000,000 and shall be an integral multiple of $1,000,000 in excess thereof1,000,000, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes Revolving Note subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Eligible Assignee which is an Affiliate of a Lenderthe assigning Bank) shall pay to the Administrative Agent a $3,500 3,000 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender Bank hereunder and (B) such Lender Bank thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s Bank's rights and obligations under this Agreement, such Lender Bank shall cease to be a party hereto). Notwithstanding anything herein to the contrary, any Bank may assign, as collateral or otherwise, any of its rights under the Credit Documents to any Federal Reserve Bank.

Appears in 1 contract

Samples: Security Agreement (Arkansas Best Corp /De/)

Assignments. Any Each Lender may assign to one or more Eligible Assignees all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitmentsrights, obligations or rights and obligations under this Credit Agreement, pursuant to an assignment agreement substantially in the form of Schedule 11.3(b), to (i) any Lender or any Affiliate or Subsidiary of a Lender, or (ii) any other commercial bank, financial institution or "accredited investor" (as defined in Regulation D of the Securities and Exchange Commission) reasonably acceptable to the Administrative Agent and, so long as no Default or Event of Default has occurred and is continuing, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it)Borrower; provided, however, provided that (i) any such assignment must be accompanied by an assignment of an identical percentage interest by such Lender of its interests under the TROL Documents, (ii) any such assignment (other than any assignment to an existing Lender) plus the assignment of such Lender's interest under the TROL Documents shall be in a minimum aggregate amount of $5,000,000 (or, if less, the remaining amount of the Commitment plus the remaining interest of such Lender under the TROL Documents being assigned by such Lender) and in integral multiples of $1,000,000 above such amount and (iii) each such assignment shall be of a constant, and not a varying, percentage of all such Lender’s 's rights and obligations assigned under this Credit Agreement and the TROL Documents. Any assignment hereunder shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay effective upon delivery to the Administrative Agent of written notice of the assignment together with a transfer fee of $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, 3,000 payable to the Administrative Agent for its own account from and after the later of (i) the effective date specified in each Assignment the applicable assignment agreement and Acceptance(ii) the date of recording of such assignment in the Register pursuant to the terms of subsection (c) below. The assigning Lender will give prompt notice to the Administrative Agent and the Borrower of any such assignment. Upon the effectiveness of any such assignment (and after notice to, which effective date and (to the extent required pursuant to the terms hereof), with the consent of, the Borrower as provided herein), the assignee shall become a "Lender" for all purposes of this Credit Agreement and the other Credit Documents and, to the extent of such assignment, the assigning Lender shall be at least three Business Days after relieved of its obligations hereunder to the execution extent of the Loans and Commitment components being assigned. Along such lines the Borrower agrees that upon notice of any such assignment and surrender of the appropriate Note or Notes, it will promptly provide to the assigning Lender and to the assignee separate promissory notes in the amount of their respective interests substantially in the form of the original Note (but with notation thereon that it is given in substitution for and replacement of the original Note or any replacement notes thereof). By executing and delivering an assignment agreement in accordance with this Section 11.3(b), (A) the assigning Lender thereunder and the assignee thereunder shall be a party deemed to confirm to and agree with each other and the other parties hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and as follows: (Bi) such assigning Lender thereunder shallwarrants that it is the legal and beneficial owner of the interest being assigned thereby free and clear of any adverse claim; (ii) except as set forth in clause (i) above, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Credit Agreement, any of the extent that rights and obligations hereunder have been assigned other Credit Documents or any other instrument or document furnished pursuant hereto or thereto, or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto or the financial condition of any Credit Party or any of their respective Affiliates or the performance or observance by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from any Credit Party of any of its obligations under this Agreement Credit Agreement, any of the other Credit Documents or any other instrument or document furnished pursuant hereto or thereto; (andiii) such assignee represents and warrants that it is legally authorized to enter into such assignment agreement; (iv) such assignee confirms that it has received a copy of this Credit Agreement, the other Credit Documents and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such assignment agreement; (v) such assignee will independently and without reliance upon the Administrative Agent, such assigning Lender or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in the case of an Assignment and Acceptance covering all taking or the remaining portion of such Lender’s rights and obligations not taking action under this AgreementCredit Agreement and the other Credit Documents; (vi) such assignee appoints and authorizes the Administrative Agent to take such action on its behalf and to exercise such powers under this Credit Agreement or any other Credit Document as are delegated to the Administrative Agent by the terms hereof or thereof, together with such Lender shall cease powers as are reasonably incidental thereto; and (vii) such assignee agrees that it will perform in accordance with their terms all the obligations which by the terms of this Credit Agreement and the other Credit Documents are required to be performed by it as a party hereto)Lender.

Appears in 1 contract

Samples: Credit Agreement (Correctional Services Corp)

Assignments. Any Lender Bank may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement and the other Credit Documents (including, without limitation, all or a portion of its CommitmentsCommitment, the Advances owing to it, the Notes held by it, it and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of all of such Lender’s Bank's rights and obligations assigned under this Agreement and the other Credit Documents and shall be an equal percentage with respect to both its obligations owing in respect involve a ratable assignment of the Commitments such Bank's Commitment and the related Advances and Letters of Creditsuch Bank's Revolving Advances, (ii) the amount of the Commitments resulting Commitment and Revolving Advances of such Lender being assigned the assigning Bank (unless it is assigning all its Commitment) and the assignee Bank pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not in no event be less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof1,000,000, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes Revolving Note subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Eligible Assignee which is an Affiliate of a Lenderthe assigning Bank) shall pay to the Administrative Agent a $3,500 3,000 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) thereof unless otherwise agreed by the assignee thereunder shall be a party hereto for all purposes and, parties to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto).such

Appears in 1 contract

Samples: Credit Agreement (Arkansas Best Corp /De/)

Assignments. Any Lender Each Bank may at any time assign and delegate to one or more Eligible Assignees all (each, an “Assignee”) with the written consent of the Company and the Administrative Agent, which consent shall not be unreasonably withheld (provided that no written consent of the Company shall be required (a) after the occurrence and during the continuance of an Event of Default or (b) in connection with any portion assignment and delegation to an Affiliate of its rights and obligations under this Agreement (including, without limitationsuch Bank), all or a portion of its Commitmentsthe Loans, the Advances owing to it, the Notes held by it, Commitment and the participation interest in other rights and obligations of such Bank hereunder, under the Letter of Credit Obligations held by it)other Loan Documents; provided, however, that any Bank that is or becomes a party to this Agreement from time to time shall at all times retain an interest in the Loans, the Commitment and the other rights and obligations of a Bank hereunder in an aggregate principal amount of not less than Ten Million Dollars ($10,000,000.00); and provided further, however, that any assignment of a Bank’s interest in the Loans, the Commitment and the other rights and obligations of such Bank hereunder and under the other Loan Documents shall be in the minimum amount of Ten Million Dollars ($10,000,000.00) and multiples of One Million Dollars ($1,000,000.00) in excess thereof; and provided further, however, that the Company may continue to deal solely and directly with the assignor Bank in connection with the interest so assigned to an Assignee until (i) each such assignment shall be of a constant, and not a varying, percentage written notice of such Lender’s rights and obligations assigned under this Agreement and assignment, substantially in the form of Schedule 1 to the attached Exhibit H, shall be an equal percentage with respect have been given to both its obligations owing in respect of the Commitments Company and the related Advances Administrative Agent by such Bank and Letters of Creditthe Assignee, (ii) the amount of the Commitments such Bank and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) its Assignee shall be, if to an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver have delivered to the Administrative Agent, for its acceptance Agent and recording in the Register, Company an Assignment and Acceptance, Assumption Agreement substantially in the form of the attached Exhibit H (the “Assignment and Assumption Agreement”) (together with the Notes any Note(s) subject to such assignment), and (viii) each Eligible the Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay have paid to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, processing fee in the case amount of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto)$2,500.

Appears in 1 contract

Samples: Credit Agreement (Bedford Property Investors Inc/Md)

Assignments. Any Lender may assign to one or more Eligible Assignees all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, and the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of CreditAdvances, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 2,500,000 and shall be an integral multiple of $1,000,000 500,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

Appears in 1 contract

Samples: Pledge Agreement (Cano Petroleum, Inc)

Assignments. Any Lender may assign to one or more Eligible Assignees banks or other entities all or any portion of its rights and obligations under this Agreement (including, without limitation, including all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of such Lender’s 's rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not less than $5,000,000 3,000,000 and shall be an integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a LenderAgent) shall pay to the Administrative Agent a $3,500 administrative fee (provided that the Administrative Agent may waive such fee). Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereofthereof (unless the Administrative Agent agrees otherwise), (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s 's rights and obligations under this Agreement, such Lender shall cease to be a party hereto)) but shall continue to be entitled to the benefits of Sections 2.12, 2.13, 2.14, 9.04 and 9.07 with respect to facts and circumstances occurring prior to the effective date of such assignment; provided, that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender's having been a Defaulting Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (d) of this Section.

Appears in 1 contract

Samples: Credit Agreement (Callon Petroleum Co)

Assignments. (a) Any Lender may at any time assign to one or more Eligible Assignees all financial institutions (each an "ASSIGNEE") all, or any portion a proportionate part of all, of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by itAgreement, and such Assignee shall assume such rights and obligations, pursuant to an instrument, in substantially the participation interest form of EXHIBIT G (an "ASSIGNMENT AND ACCEPTANCE"), executed by such Assignee and such transferor Lender, with (and subject to) the signed consent of the Borrower and the Administrative Agent (which consent shall not be unreasonably withheld); PROVIDED, that the foregoing consent requirement shall not be applicable in the Letter case of Credit Obligations held an assignment or other transfer by it); provided, however, that any Lender to an affiliate of such Lender (i) each other than in connection with or in contemplation of any transaction following which such assignment shall Person will no longer be of a constant, and not a varying, percentage such an affiliate of such Lender’s rights ) or to another Lender. Upon execution and obligations assigned under this Agreement and shall be delivery of an equal percentage with respect to both its obligations owing in respect of the Commitments and the related Advances and Letters of Credit, (ii) the amount of the Commitments and Advances of such Lender being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect and payment by such Assignee to such assignment) shall be, if transferring Lender of an amount equal to the purchase price agreed between such transferring Lender and such Assignee and payment by the transferring Lender or the Assignee of an entity other than a Lender, not less than $5,000,000 and shall be an integral multiple assignment fee of $1,000,000 in excess thereof, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver 3,000 to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, and (v) each Eligible Assignee (other than the Eligible Assignee of the Administrative Agent or an Affiliate of a Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a Lender party hereto for to this Agreement and shall have all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to with a Commitment as set forth in such Assignment and Acceptance, relinquish its rights and the transferring Lender shall be released from its obligations under this Agreement (andhereunder to a corresponding extent, in the case of an Assignment and Acceptance covering all no further consent or the remaining portion of such Lender’s rights and obligations under this Agreement, such Lender action by any party shall cease to be a party hereto)required.

Appears in 1 contract

Samples: Credit Agreement (Westfield America Inc)

Assignments. Any Lender may assign to one or more Eligible Assignees banks or other ----------- entities all or any portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitments, the Advances owing to it, the Notes held by it, and the participation interest in the Letter of Credit Obligations held by it); provided, however, that (i) each -------- ------- such assignment shall be of a constant, and not a varying, percentage of all of such Lender’s 's rights and obligations assigned under this Agreement and shall be an equal percentage with respect to both its obligations owing in respect involve a ratable assignment of the Commitments such Lender's Commitment and the related Advances and Letters of CreditAdvances, (ii) the amount of the resulting Commitments and Advances of such the assigning Lender being assigned (unless it is assigning all its Commitments) and the assignee Lender pursuant to each such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall be, if to an entity other than a Lender, not in no event be less than $5,000,000 and shall be an integral multiple of $1,000,000 in excess thereof1,000,000, (iii) each such assignment shall be to an Eligible Assignee, (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with the Notes subject to such assignment, (v) the Administrative Agent shall consent to such assignment, which consent shall not be unreasonably withheld or delayed, and (vvi) each Eligible Assignee (other than the an Eligible Assignee of the Administrative Agent or which is an Affiliate of a the assigning Lender) shall pay to the Administrative Agent a $3,500 administrative fee. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at least three Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto for all purposes and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (B) such Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of such Lender’s 's rights and obligations under this Agreement, such Lender shall cease to be a party hereto). Notwithstanding anything herein to the contrary, any Lender may assign, as collateral or otherwise, any of its rights under the Credit Documents to any Federal Reserve Bank.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Meristar Hotels & Resorts Inc)

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