Common use of Assignments by the Lender Clause in Contracts

Assignments by the Lender. The Lender may at any time assign to one or more Persons all or a portion of its rights and obligations under this Agreement (including all or a portion of the Loan) pursuant to documentation acceptable to the Lender and the assignee; provided that (i) prior to the time that the Loan has been funded by the Lender on the Funding Date, any such assignment shall be made only with the prior written consent of the Borrower (such consent not to be unreasonably withheld) and (ii) unless an Event of Default has occurred and is continuing, such assignee must be a financial institution regularly engaged in the business of lending; provided, further, that each such assignment pursuant to this Section 10.06(b) shall be either (i) in an aggregate amount of not less than $1,000,000 or (ii) an assignment of all of the Lender’s rights and obligations hereunder. From and after the effective date specified in such documentation, such assignee shall be a party to this Agreement and, to the extent of the interest assigned by the Lender, have the rights and obligations of the Lender under this Agreement, and the Lender shall, to the extent of the interest so assigned, be released from its obligations under this Agreement (and, in the case of an assignment of all of the Lender’s rights and obligations under this Agreement, shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 3.01, 3.03, 3.04, 10.04, 10.05 and 10.09 with respect to facts and circumstances occurring prior to the effective date of such assignment). Upon request, the Borrower (at its expense) shall execute and deliver new or replacement Notes to the Lender and the assignee, and shall execute and deliver any other documents reasonably necessary or appropriate to give effect to such assignment and to provide for the administration of this Agreement after giving effect thereto.

Assignments by the Lender. The Lender may at any time assign to one or more Persons assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of the Loan) pursuant to documentation acceptable to the Lender its Commitment and the assigneeLoan at the time owing to it); provided that (i) prior to the time that the Loan has been funded by the Lender on the Funding Date, any such assignment shall be made only with the prior written consent of the Borrower (such consent not to be unreasonably withheldwithheld or delayed) and shall be required unless (ii1) unless an Event of Default pursuant to Article VII(a), (b), (h), (i) or (j) has occurred and is continuing, continuing at the time of such assignee must be a financial institution regularly engaged in assignment,(2) such assignment is an assignment of the business Loan to an Affiliate of lendingthe Lender or an Approved Fund; provided, further, that each the Borrower shall be deemed to have consented to any such assignment pursuant unless it shall object thereto by written notice to this Section 10.06(bthe Lender within ten (10) shall be either (i) in an aggregate amount of not less than $1,000,000 or (ii) an assignment of all of the Lender’s rights and obligations hereunderBusiness Days after having received notice thereof. From and after the effective date specified in of any such documentationassignment, such the assignee shall be a party to this Agreement and, to the extent of the interest assigned by the Lenderassigned, have the rights and obligations of the Lender under this Agreement, and the Lender shall, to the extent of the interest so assigned, be released from its obligations under this Agreement (and, in the case of an assignment of covering all of the Lender’s rights and obligations under this Agreement, the Lender shall cease to be a party hereto hereto) but shall continue to be entitled to the benefits of Sections 3.012.13, 3.03, 3.04, 10.04, 10.05 2.15 and 10.09 9.03 with respect to facts and circumstances occurring prior to the effective date of such assignment). Upon request, the Borrower (at its expense) shall execute and deliver new or replacement Notes a promissory note to the Lender and the assignee, and shall execute and deliver any other documents reasonably necessary or appropriate to give effect to such assignment and to provide for the administration of this Agreement after giving effect thereto.