Common use of Assignment Provisions Clause in Contracts

Assignment Provisions. (a) Each of Assignor, in its individual capacity as lender under the Existing Credit Agreement, and GNI and each of its subsidiaries party to the Existing Credit Agreement, acknowledge and agree that (i) the rights and obligations of such parties to the Existing Credit Agreement and under or in respect to the "Loan Documents" referred to therein (and the liens and security interests securing all such obligations) are assigned and transferred to Agent, for the benefit of the Lenders under the Loan and Security Agreement, (ii) the Loan and Security Agreement constitutes a renewal, extension, modification and restatement in its entirety of the Existing Credit Agreement (and not a novation thereof) and that the liens and security interests created thereunder, and under the Loan Documents referred to therein, secure the Secured Obligations under the Loan and Security Agreement. Assignor hereby sells, transfers, sets over and assigns to Agent, for the benefit of the Lenders under the Loan and Security Agreement, all of Assignor's right, title and interest in and to the following: