Common use of Admission of New Investors Clause in Contracts

Admission of New Investors. No Borrower shall admit any Person that is an assignee of an Ownership Interest in such Borrower as a substitute Investor, or any other Person as a new Investor, in each case if such Person is a Sanctioned Person or if doing so would violate any Sanctions. Any new Investor shall be excluded from the Borrowing Base and any existing transferee Investor shall not have the increased portion of its Capital Commitment included in the Borrowing Base: (x) in the case of any Replacement Action with respect to a proposed PWM Investor, except in compliance with Section 9.05(d)(ii), (y) in the case of any Replacement Action with respect to a proposed Institutional Investor, except in compliance with Section 9.05(d)(i), and (z) in the case of all other proposed Investors, until Administrative Agent has received the documentation described in Section 6.01(l) and, if applicable, all related transfer documents.