Common use of Assignments by the Lender Clause in Contracts

Assignments by the Lender. The Lender may at any time grant participation in, and sell, assign, transfer or otherwise dispose of, all or any portion of the Indebtedness of the Borrower outstanding pursuant to this Agreement, provided that there will not result therefrom any added cost to the Borrower. Where the Lender proposes to sell, assign or transfer a portion and not all of the Indebtedness of the Borrower outstanding pursuant to this Agreement, it shall notify the Borrower. The Borrower hereby agrees that any purchaser, assignee or transferee of all or (with the consent of the Borrower) any portion of any amount owned by it under this Agreement: 14.6.1 shall be entitled to the benefits of the provisions of this Agreement and the Security Documents as fully as though it were an original party to this Agreement and the Lender hereunder; and 1.6.2 may exercise any and all rights of banker’s lien, compensation, set-off or counterclaim with respect to any and all amounts owed by the Borrower to such purchaser, assignee or transferee as fully as if such purchaser, assignee, transferee or holder had made a Loan in the amount of the obligation which is sold, assigned or transferred to it; the Borrower shall, at the request and expense of the Lender, execute and deliver to the Lender or to such party or parties as the Lender may designate any and all further instruments, use its best efforts to obtain any and all further authorizations or approvals, and make any and all further registrations, filings or notifications, as may be necessary or desirable to give full force and effect to such disposition.

Assignments by the Lender. The Lender may may, at any time grant participation in, and sell, assign, transfer or otherwise dispose of, assign all or any portion of its rights and benefits under the Indebtedness Loan Agreement (including these General Conditions) without requiring the prior consent of the Borrower outstanding pursuant to this Agreement, provided that there will not result therefrom any added cost to the Borrower. Where the Lender proposes to sell, assign or transfer a portion and not all of the Indebtedness of the Borrower outstanding pursuant to this Agreement, it shall notify the Borrower. The Borrower hereby agrees and Lender acknowledge that the Lender may transfer, assign, part with any purchaseror all of its rights or obligations under the Facility Documents to any third party, assignee or transferee of all or (with in any manner whatsoever. The Borrower irrevocably and unconditionally confirms that it shall continue to be bound by the consent terms of the Borrower) any portion Facility Documents notwithstanding such transfer or assignment by the Lender and that the transferee shall acquire an interest in the Facility Documents upon the transfer taking effect. It is hereby clarified that the Guarantor, if any, shall not stand discharged of any amount owned by it under this Agreement: 14.6.1 shall its obligations as a surety or guarantor as a result of such sale, assignment, or transfer. Further, the Borrower expressly recognizes and accepts that the Lender shall, without prejudice to its rights to perform such activities either itself or through its officers or servants, be absolutely entitled and have full power and authority to the benefits appoint one or more third parties of the provisions of this Agreement Lender’s choice and the Security Documents as fully as though it were an original party to this Agreement and the Lender hereunder; and 1.6.2 may exercise any and all rights of banker’s lien, compensation, set-off transfer or counterclaim with respect to any and all amounts owed by the Borrower delegate to such purchaserthird parties, assignee or transferee as fully as if such purchaser, assignee, transferee or holder had made a Loan in the amount of the obligation which is sold, assigned or transferred right and authority to it; the Borrower shall, at the request and expense collect on behalf of the Lender, execute all unpaid amounts under the Loan Agreement (including these General Conditions) and deliver under any other agreement entered or to be entered into by the Lender in relation to the Lender Facility and to perform and execute all acts, deeds, matters and things connected therewith or to such party incidental thereto including attending the office or parties residence of the Borrowers, receiving the amounts due and generally performing all lawful acts as the Lender third party may designate any and all further instruments, use its best efforts to obtain any and all further authorizations or approvals, and make any and all further registrations, filings or notifications, as may be necessary or desirable to give full force and effect to consider appropriate for such dispositionpurposes.

Assignments by the Lender. (a) The Borrower acknowledges that the Lender may at any time grant participation insell, and selltransfer, securitize, assign, novate, risk participate or otherwise part with, in part or in full, the Borrower's dues arising under the Financing Documents and any or all of the Lender's corresponding rights, benefits or obligations (if any), including the rights and benefits of the Lender in the Security Interest provided by the Borrower, any of the Promoters and the Security Providers under the Security Documents to any Person in India or outside India (“Assignee”), in any manner whatsoever, whether with recourse or without recourse to the Lender, without notice to or consent to/ from the Borrower and /or the Security Providers. (b) The Borrower further agrees that upon an assignment in favour of any Assignee, such Assignee will be entitled to take any action, including initiation of legal proceedings, against the Borrower in the Assignees's own name without making the Lender a party thereto. It is further clarified that upon part assignment or transfer or otherwise dispose ofother disposition of the Facility and corresponding rights and obligations (if any) to such Assignee, all the Lender or the Assignee will be entitled to take any action for that portion of the Indebtedness Borrower's dues owing, including initiation of legal proceedings, against the Borrower in its own name, as the case maybe, without making the other a party thereto. (c) The Borrower irrevocably and unconditionally confirms that the Borrower shall and shall ensure that the Borrower, Security Provider(s) and the Promoter shall continue to be bound by the terms of the Borrower outstanding pursuant to this Agreement, provided that there will not result therefrom any added cost to the Borrower. Where Financing Documents notwithstanding such transfer or assignment by the Lender proposes to sell, assign or transfer a portion and not all of that the Indebtedness of the Borrower outstanding pursuant to this Agreement, it Assignee shall notify the Borrower. The Borrower hereby agrees that any purchaser, assignee or transferee of all or (with the consent of the Borrower) any portion of any amount owned by it under this Agreement: 14.6.1 shall be entitled to the benefits of the provisions of this Agreement and the Security Documents as fully as though it were acquire an original party to this Agreement and the Lender hereunder; and 1.6.2 may exercise any and all rights of banker’s lien, compensation, set-off or counterclaim with respect to any and all amounts owed by the Borrower to such purchaser, assignee or transferee as fully as if such purchaser, assignee, transferee or holder had made a Loan interest in the amount of Financing Documents upon the obligation which is sold, assigned or transferred to it; the Borrower shall, at the request and expense of the Lender, execute and deliver to the Lender or to such party or parties as the Lender may designate any and all further instruments, use its best efforts to obtain any and all further authorizations or approvals, and make any and all further registrations, filings or notifications, as may be necessary or desirable to give full force and effect to such dispositiontransfer taking effect.