Common use of Assignments by Purchasers Clause in Contracts

Assignments by Purchasers. Any Purchaser may assign to one or more Persons (“Purchasing Purchasers”), acceptable to the Agent in its sole discretion and, prior to the occurrence of a Termination Event, subject to the prior written consent of the Seller (which consent will not be unreasonably withheld or delayed) any portion of its Commitment as a Purchaser hereunder and Purchase Interest pursuant to a supplement hereto (a “Transfer Supplement”) in form satisfactory to the Agent executed by each such Purchasing Purchaser, such selling Purchaser and the Agent. Any such assignment by a Purchaser must be for an amount of at least $5,000,000 or, if less, 100% of the assigning Purchaser’s Commitment. Each Purchasing Purchaser shall pay a fee of $4,000 to the Agent. Any partial assignment shall be an assignment of an identical percentage of such selling Purchaser Investment and its Commitment. Upon the execution and delivery to the Agent of the Transfer Supplement and payment by the Purchasing Purchaser to the selling Purchaser of the agreed purchase price, such selling Purchaser shall be released from its obligations hereunder to the extent of such assignment and such Purchasing Purchaser shall for all purposes be a Purchaser party hereto and shall have all the rights and obligations of a Purchaser hereunder to the same extent as if it were an original party hereto with a Commitment as a Purchaser and Investment described in the Transfer Supplement.

Appears in 3 contracts

Samples: Receivables Sale Agreement (Sirva Inc), Receivables Sale Agreement (Sirva Inc), Receivables Sale Agreement (Sirva Inc)

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Assignments by Purchasers. Any Purchaser may assign to one or more Persons (“Purchasing Purchasers”), acceptable to the Agent in its sole discretion and, prior to the occurrence of a Termination Event, subject to the prior written consent of the Seller (which consent will not be unreasonably withheld or delayed) any portion of its Commitment Purchase Limit as a Purchaser hereunder and Purchase Interest pursuant to a supplement hereto (a “Transfer Supplement”) in form satisfactory to the Agent executed by each such Purchasing Purchaser, such selling Purchaser and the Agent. Any such assignment by a Purchaser must be for an amount of at least $5,000,000 or, if less, 100% of the assigning Purchaser’s CommitmentPurchase Limit. Each Purchasing Purchaser shall pay a fee of $4,000 to the Agent. Any partial assignment shall be an assignment of an identical percentage of such selling Purchaser Investment and its CommitmentPurchase Limit. Upon the execution and delivery to the Agent of the Transfer Supplement and payment by the Purchasing Purchaser to the selling Purchaser of the agreed purchase price, such selling Purchaser shall be released from its obligations hereunder to the extent of such assignment and such Purchasing Purchaser shall for all purposes be a Purchaser party hereto and shall have all the rights and obligations of a Purchaser hereunder to the same extent as if it were an original party hereto with a Commitment Purchase Limit as a Purchaser and Investment described in the Transfer Supplement.

Appears in 2 contracts

Samples: Receivables Sale Agreement (Sirva Inc), Receivables Sale Agreement (Sirva Inc)

Assignments by Purchasers. Any Purchaser may assign to one or more Persons (“Purchasing Purchasers”), acceptable to the Agent in its sole discretion and, prior to the occurrence of a Termination Event, subject to the prior written consent of the Seller (which consent will not be unreasonably withheld or delayedwithheld) any portion of its Commitment as a Purchaser hereunder and Purchase Interest pursuant to a supplement hereto (a “Transfer Supplement”) in form satisfactory to the Agent executed by each such Purchasing Purchaser, such selling Purchaser and the Agent. Any such assignment by a Purchaser must be for an amount of at least $5,000,000 or, if less, 100% of the assigning Purchaser’s Commitment. Each Purchasing Purchaser shall pay a fee of $4,000 to the Agent. Any partial assignment shall be an assignment of an identical percentage of such selling Purchaser Investment and its Commitment. Upon the execution and delivery to the Agent of the Transfer Supplement and payment by the Purchasing Purchaser to the selling Purchaser of the agreed purchase price, such selling Purchaser shall be released from its obligations hereunder to the extent of such assignment and such Purchasing Purchaser shall for all purposes be a Purchaser party hereto and shall have all the rights and obligations of a Purchaser hereunder to the same extent as if it were an original party hereto with a Commitment as a Purchaser and Investment described in the Transfer Supplement.

Appears in 1 contract

Samples: Receivables Sale Agreement (Sirva Inc)

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Assignments by Purchasers. Any Purchaser may assign to one or more Persons (“Purchasing Committed Purchasers”), acceptable to with the Agent in its sole discretion and, prior to the occurrence of a Termination Event, subject to the prior written consent of the Seller Agent (which such consent will not to be unreasonably withheld or delayedwithheld) any portion of its Commitment as a Purchaser hereunder and Purchase Interest pursuant to a supplement hereto (a “Transfer Supplement”) in form satisfactory to the Agent executed by each such Purchasing Committed Purchaser, such selling Purchaser and the Agent. Any such assignment by a Purchaser must be for an amount of at least $5,000,000 or, if less, 100% of the assigning Purchaser’s Commitment10,000,000. Each Purchasing Committed Purchaser shall pay a fee of $4,000 3,000 to the Agent. Any partial assignment shall be an assignment of an identical percentage of such selling Purchaser Purchaser's Investment and its CommitmentCommitment as a Purchaser hereunder. Upon the execution and delivery to the Agent of the Transfer Supplement and payment by the Purchasing Committed Purchaser to the selling Purchaser of the agreed purchase price, such selling Purchaser shall be released from its obligations hereunder to the extent of such assignment and such Purchasing Committed Purchaser shall for all purposes be a Purchaser party hereto and shall have all the rights and obligations of a Purchaser hereunder to the same extent as if it were an original party hereto with a Commitment as a Purchaser Purchaser, any Investment and Investment any related assigned Conduit Settlement described in the Transfer Supplement.

Appears in 1 contract

Samples: Receivables Sale Agreement (Alliance One International, Inc.)

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