Common use of Assignability as Collateral Clause in Contracts

Assignability as Collateral. Notwithstanding any other provision contained in this Agreement or any other Credit Facility Document to the contrary, any Lender may assign all or any portion of the Loans or Notes held by it as collateral security provided that any payment in respect of such assigned Loans or Notes made by Borrower to or for the account of the assigning and/or pledging Lender in accordance with the terms of this Agreement shall satisfy Borrower’s obligations hereunder in respect to such assigned Loans or Notes to the extent of such payment. No such assignment shall release the assigning Lender from its obligations hereunder.

Appears in 6 contracts

Samples: Credit Agreement (Tampa Electric Co), Credit Agreement (Teco Energy Inc), Credit Agreement (Teco Energy Inc)

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Assignability as Collateral. Notwithstanding any other provision contained in this Agreement or any other Credit Facility Document to the contrary, any Lender may assign all or any portion of the Loans or Notes held by it as collateral security provided that any payment in respect of such assigned Loans or Notes made by Borrower to or for the account of the assigning and/or pledging Lender in accordance with the terms of this Agreement shall satisfy Borrower’s 's obligations hereunder in respect to such assigned Loans or Notes to the extent of such payment. No such assignment shall release the assigning Lender from its obligations hereunder.

Appears in 3 contracts

Samples: Credit Agreement (Teco Energy Inc), Credit Agreement (Tampa Electric Co), Credit Agreement (Teco Energy Inc)

Assignability as Collateral. Notwithstanding any other provision contained in this Agreement or any other Credit Facility Document to the contrary, any Lender may assign all or any portion of the Loans or Notes Note held by it as collateral security provided that any payment in respect of such assigned Loans or Notes Note made by Borrower to or for the account of the assigning and/or pledging Lender in accordance with the terms of this Agreement shall satisfy Borrower’s obligations hereunder in respect to such assigned Loans or Notes Note to the extent of such payment. No such assignment shall release the assigning Lender from its obligations hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Teco Energy Inc), Credit Agreement (Tampa Electric Co)

Assignability as Collateral. Notwithstanding any other provision contained in this Agreement or any other Credit Facility Document to the contrary, any Lender may assign all or any portion of the Loans or Notes Note held by it as collateral security security; provided that any payment in respect of such assigned Loans or Notes Note made by Borrower to or for the account of the assigning and/or pledging Lender in accordance with the terms of this Agreement shall satisfy Borrower’s obligations hereunder in respect to such assigned Loans or Notes Note to the extent of such payment. No such assignment shall release the assigning Lender from its obligations hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Tampa Electric Co), Credit Agreement (Teco Energy Inc)

Assignability as Collateral. Notwithstanding any other provision contained in this Agreement or any other Credit Facility Document to the contrary, any Lender may assign all or any portion of the Loans Loan or Notes held by it as collateral security provided that any payment in respect of such assigned Loans Loan or Notes made by Borrower to or for the account of the assigning and/or pledging Lender in accordance with the terms of this Agreement shall satisfy Borrower’s obligations hereunder in respect to such assigned Loans Loan or Notes to the extent of such payment. No such assignment shall release the assigning Lender from its obligations hereunder.

Appears in 1 contract

Samples: Credit Agreement (Teco Energy Inc)

Assignability as Collateral. Notwithstanding any other provision contained in this Agreement or any other Credit Facility Document to the contrary, any Lender may assign all or any portion of the Loans or Notes Note held by it as collateral security provided that any payment in respect of such assigned Loans or Notes Note made by Borrower to or for the account of the assigning and/or pledging Lender in accordance with the terms of this Agreement shall satisfy Borrower’s 's obligations hereunder in respect to such assigned Loans or Notes Note to the extent of such payment. No such assignment shall release the assigning Lender from its obligations hereunder.

Appears in 1 contract

Samples: Credit Agreement (Teco Energy Inc)

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Assignability as Collateral. Notwithstanding any other provision contained in this Agreement or any other Credit Facility Document to the contrary, any Lender may assign all or any portion of the Loans or Notes Note held by it as collateral security security, provided that any payment in respect of such assigned Loans or Notes Note made by Borrower to or for the account of the assigning and/or pledging Lender in accordance with the terms of this Agreement shall satisfy Borrower’s obligations hereunder in respect to such assigned Loans or Notes Note to the extent of such payment. No such assignment shall release the assigning Lender from its obligations hereunder.

Appears in 1 contract

Samples: Assignment and Assumption (Tampa Electric Co)

Assignability as Collateral. Notwithstanding any other provision contained in this Agreement or any other Credit Facility Loan Document to the contrary, any Lender may assign all or any portion of the Loans or Notes Note held by it as collateral security security; provided that any payment in respect of such assigned Loans or Notes Note made by Borrower to or for the account of the assigning and/or pledging Lender in accordance with the terms of this Agreement shall satisfy Borrower’s obligations hereunder in respect to such assigned Loans or Notes Note to the extent of such payment. No such assignment shall release the assigning Lender from its obligations hereunder.

Appears in 1 contract

Samples: Loan Agreement (Teco Energy Inc)

Assignability as Collateral. Notwithstanding any other provision contained in this Agreement or any other Credit Facility Document to the contrary, any Lender may assign all or any portion of the Loans or Notes held by it as collateral security security, provided that any payment in respect of such assigned Loans or Notes made by Borrower to or for the account of the assigning and/or pledging Lender in accordance with the terms of this Agreement shall satisfy Borrower’s obligations hereunder in respect to such assigned Loans or Notes to the extent of such payment. No such assignment shall release the assigning Lender from its obligations hereunder.

Appears in 1 contract

Samples: Credit Agreement (Tampa Electric Co)

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