Assignments/Participation Clause Samples
Assignments/Participation. (a) The Borrower shall not assign or otherwise transfer any of its rights pursuant to this Agreement without the prior written consent of the Agent, and any such assignment or other transfer without such prior written consent shall be void.
(b) Any Lender may, in accordance with applicable law, at any time sell to one or more Persons who would qualify as an Eligible Assignee (each, a “Participant”) participating interests in any Revolving Loan or Term Loan owing to such Lender, any Revolving Note or Term Note held by such Lender, any Commitment of such Lender or any other interest of such Lender under the Loan Documents. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the holder of any such Revolving Loan or Revolving Note or Term Loan or Term Note for all purposes under the Loan Documents, all amounts payable by Borrower under this Agreement shall be determined as if such Lender had not sold such participating interests, and the Borrower and the Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under the Loan Documents. In no event shall any Participant have any right to approve any amendment or waiver of any provision of any Loan Document, or any consent to any departure by Borrower or any Guarantor therefrom, except to the extent that such amendment, waiver or consent would reduce the principal of, or interest on, the Loans or any fees payable hereunder, or postpone the Revolving Credit Maturity Date or Term Loan Maturity Date, in each case to the extent subject to such participation. Each Lender that sells a participation shall, acting as an agent of the Borrower solely for this purpose, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under this Agreement (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register to any Person except to the extent that such disclosure is necessary to establish compliance with any applicable provision of the Code, including to establish that any Commitment, Loan or other obligation...
Assignments/Participation. On and after the Assignment Effective Date, the Assignee may assign all or any part of the rights granted to it as an Assignee hereunder in accordance with the applicable provisions of Section 9.
Assignments/Participation. 24.01 The Borrower may not assign or transfer all or any of its rights, benefits and obligations under this Agreement without the prior written consent of the Majority Banks (662/3%); provided, however, that nothing in this SECTION 24.01 shall affect the ability of the 120
(a) Notwithstanding any other provision contained in this Agreement or any other documents, no Bank may assign or transfer any of its interests under this Agreement except in accordance with the provisions of this SECTION 24.02 and no Bank may transfer, assign or grant participations in its rights and/or delegations under this Agreement except in accordance with this SECTION 24.02; provided, however, that nothing in this SECTION 24.02 or in this Agreement shall prevent, subject to SECTION 24.03, any Bank assigning or granting participations in such Bank's interests under this Agreement to such Bank's parent bank holding company or to any affiliate in which such Bank or parent bank holding company has the power to vote at least 33 1/3% of the voting securities issued by such affiliate for the election of the board of directors (or members of an equivalent governing body), provided, however, that such affiliate assignee may only further assign or subparticipate its interests in Loans pursuant to the terms of this ARTICLE 24 and provided, however, that such affiliate assignee cannot further assign or subparticipate its interests in Loans to any Person which is an affiliate pursuant to the provisions of SECTION 24.02(A).
(b) Each Bank shall have the right to transfer, assign or grant participations in all or any part of its remaining rights and obligations under this Agreement on the basis and subject to the conditions set forth below in this SUBSECTION 24.02(B).
(i) Each Bank may assign all or a portion of its rights and obligations under this Agreement to any Person in accordance with the terms of this SECTION 24.
Assignments/Participation. 117 24.01 ............................................................................117 24.02 ............................................................................118 24.03 ............................................................................119 vi
Assignments/Participation. 63 14.9.1 Assignments. . . . . . . . . . . . . . . . . 63 14.9.2 Participation. . . . . . . . . . . . . . . . 65 14.10
Assignments/Participation. (a) No Borrower or Guarantor shall assign or otherwise transfer any of its rights or obligations pursuant to this Agreement or any other
Assignments/Participation