Assigned Loan Interest Clause Samples
The Assigned Loan Interest clause defines the rights and obligations related to the transfer of interest in a loan from one party to another. Typically, this clause outlines how a lender may assign their interest in a loan to a third party, including any required notifications or consents from the borrower or other stakeholders. For example, it may specify that the original lender must inform the borrower if their loan is sold or transferred, and detail how payments should be redirected. The core function of this clause is to ensure transparency and continuity in loan administration when interests are assigned, thereby protecting the rights of all parties involved and preventing disputes over payment or obligations.
Assigned Loan Interest. 1 Select as applicable. Aggregate Amount of Commitment/Loans for all Lenders Amount of Commitment/ Loans Assigned Percentage Assigned of Commitment/Loans2 $ $ % $ $ % $ $ % Effective Date: _____________ ___, 20___ [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] The Assignee agrees to deliver to the Administrative Agent a completed Administrative Questionnaire in which the Assignee designates one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the Borrower, the Loan Parties and their Related Parties or their respective securities) will be made available and who may receive such information in accordance with the Assignee’s compliance procedures and applicable laws, including federal and state securities laws. The terms set forth in this Assignment and Assumption are hereby agreed to: ASSIGNOR [NAME OF ASSIGNOR] By Title: ASSIGNEE [NAME OF ASSIGNEE] By Title: 2 Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. Consented to and Accepted: JPMORGAN CHASE BANK, N.A., as Administrative Agent and Issuing Bank and Swingline Lender By: Title: [Consented to:]3 BOWHEAD SPECIALTY HOLDINGS INC. By: Title: 3 To be added only if the consent of the Borrower is required by the terms of the Credit Agreement.
Assigned Loan Interest. Facility Assigned2 Aggregate Amount of Commitment/Loans for all Lenders Amount of Commitment/Loans Assigned Percentage Assigned of Commitment/Loans3 O'▇▇▇▇▇▇ AUTOMOTIVE, INC. STANDARD TERMS AND CONDITIONS FOR ASSIGNMENT AND ASSUMPTION
Assigned Loan Interest. 1 Select as applicable. Aggregate Amount of Commitment/Loans for all Lenders Amount of Commitment/ Loans Assigned Percentage Assigned of Commitment/Loans2 $ $ % $ $ % $ $ % Effective Date: _____________ ___, 20___ [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] The Assignee agrees to deliver to the Administrative Agent a completed Administrative Questionnaire in which the Assignee designates one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the Borrower, the Loan Parties and their Related Parties or their respective securities) will be made available and who may receive such information in accordance with the Assignee’s compliance procedures and applicable laws, including federal and state securities laws. The terms set forth in this Assignment and Assumption are hereby agreed to: ASSIGNOR [NAME OF ASSIGNOR] By Title: ASSIGNEE [NAME OF ASSIGNEE] By Title: 2 Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. Consented to and Accepted: JPMORGAN CHASE BANK, N.A., as Administrative Agent and Issuing Bank and Swingline Lender By: Title: [Consented to:]3 BOWHEAD SPECIALTY HOLDINGS INC. By: Title: 3 To be added only if the consent of the Borrower is required by the terms of the Credit Agreement.