Common use of Acceptance of Assignment and Assumption Clause in Contracts

Acceptance of Assignment and Assumption. Upon its receipt of a completed Assignment and Acceptance executed by an assigning Bank and an Assignee, in exchange for the Notes subject to such assignment, together with the Note or Notes subject to such assignment, and the processing and recordation fee referred to in Section 11.1.1, the Administrative Agent shall (a) accept such Assignment and Acceptance, (b) record the information contained therein in the Register and (c) give prompt notice thereof to the Borrower. Within five

Appears in 4 contracts

Samples: Credit Agreement (Energy Transfer Partners Lp), Credit Agreement (Heritage Propane Partners L P), Credit Agreement (Energy Transfer Partners Lp)

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