Common use of Assignments, Participations, etc Clause in Contracts

Assignments, Participations, etc. (a) Any Agent may, and with the written consent of the Agents, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) the Company and the Agents may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 5 contracts

Samples: Loan Agreement (Enstar Income Growth Program Six B L P), Loan Agreement (Enstar Income Program Iv-1 Lp), Loan Agreement (Enstar Income Program Iv-2 Lp)

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Assignments, Participations, etc. (a) Any Agent The Lender may, and with the written consent of the Agents, which consents shall not be unreasonably withheld, any other Bank, may at any time time, assign and delegate to one or more Eligible Assignees (provided that no written consent assignees other than the Company or any of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) its Affiliates or Subsidiaries (each an "Assignee") all, all or any ratable part of all, of the Loans, the Commitments its Loan and the other rights and obligations of such Bank the Lender hereunder, in a minimum amount of $5,000,000; provided, however, that (i) the US$3,000,000. The Company and the Agents may continue to deal solely and directly with such Bank the Lender in connection with the interest so assigned to an Assignee until and the assignment will not be effective until: (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and by the Administrative Agent by such Bank assigning Lender and the Assignee; and (Bii) such Bank the assigning Lender and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance substantially in the form of Exhibit E C ("an “Assignment and Acceptance") ”), together with any the Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Companyassignment. (b) From and after the date that the Administrative Agent notifies assigning Lender and its Assignee shall have delivered to the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an Company a duly executed Assignment and Acceptance and payment of the above-referenced processing feeAcceptance, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank the assigning Lender under the Loan Documents, and (ii) the assignor Bank assigning Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) The Company shall maintain a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses of the Lender and the principal amount of the Loan owing to the Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, absent manifest error, and the Company and the Lender may treat each Person whose name is recorded in the Register pursuant to the terms hereof as the Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Lender at any reasonable time and from time to time upon reasonable prior notice. (d) Within five ten (10) Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing feeAcceptance, the Company shall execute and deliver to the Administrative Agent, Assignee a new Note or Notes evidencing in the amount of such Assignee's ’s assigned Loans and Commitment Loan and, if the assignor Bank assigning Lender has retained a portion of its Loans and its CommitmentLoan, a replacement Notes in the principal amount of the Loans retained by Note for the assignor Bank Lender (such Notes Note to be in exchange for, but not in payment of, the Notes Note held by such Bankthe assigning Lender). Immediately upon each Assignee's making the assigning Lender and its processing fee payment under Assignee having delivered to the Company a duly executed Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments Loan arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (de) Any Bank The Lender (the “originating Lender”) may at any time sell to one or more commercial banks or other Persons not Affiliates of other than the Company or any of its Affiliates or Subsidiaries (a "Participant") participating interests in all or any Loans, the Commitment part of that Bank and the other interests of that Bank its Loan (the "originating Bank") hereunder and under the other Loan Documentseach a “Participation”); provided, however, that (i) the originating Bank's Lender’s obligations under this Agreement shall remain unchanged, (ii) the originating Bank Lender shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank Lender in connection with the originating Bank's Lender’s rights and obligations under this Agreement and the other Loan Documents, Documents and (iv) no Bank the Lender shall not transfer or grant any participating interest under which the Participant has rights to approve any amendment to 01, or any consent or waiver with respect to, this Agreement or any other Loan Document. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder Lender selling such participation shall be determined as if such Bank had not sold such participation; except thatentitled to agree to pay over to the Participant any amounts paid to the Lender pursuant to Section 3.01 (Taxes), Section 3.04 (Increased Costs and Reduction of Return) and Section 3.05 (Funding Losses) and if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank the Lender under this Agreement; provided that such agreement or instrument may provide that the Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification that would (i) postpone any date upon which any payment of money is scheduled to be paid to such Participant or (ii) reduce the principal, interest, fees or other amounts payable to such Participant. Subject to clause (f) of this Section 9.08, the Company agrees that each Participant shall be entitled to the benefits of Section 3.01 (Taxes), Section 3.04 (Increased Costs and Reduction of Return) and Section 3.05 (Funding Losses) to the same extent as if it were the Lender and had acquired its interest by assignment pursuant to clause (a) of this Section 9.08. To the fullest extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.10 (Set-off) as though it were the Lender. (ef) Notwithstanding Except if an Event of Default has occurred and is continuing, no Assignee or Participant shall be entitled to receive any other provision in this Agreementgreater payment under Section 3.01 (Taxes), any Bank Section 3.04 (Increased Costs and Reduction of Return), Section 3.05 (Funding Losses) or Section 3.06 (Reserves on Loan) than the Lender would have been entitled to receive with respect to the rights transferred or participated, unless such transfer or participation is made with the Company’s prior written consent or at a time when the circumstances giving rise to such greater payment did not exist. (g) The Lender may at any time create pledge or assign a security interest in, or pledge, in all or any portion of its rights under and interest in this Agreement and to secure obligations of the Note held by it in favor of Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce Bank; provided that no such pledge or security interest in assignment shall release the Lender from any manner permitted under applicable lawof its obligations hereunder or substitute any such pledgee or assignee for the Lender as a party hereto.

Appears in 4 contracts

Samples: Loan Agreement (Gruma Sab De Cv), Loan Agreement (Gruma Sab De Cv), Loan Agreement (Gruma Sab De Cv)

Assignments, Participations, etc. (a) Any Agent may, and Subject to compliance with the written consent of the Agents, which consents shall not be unreasonably withheldfollowing sentence, any other Bank, Lender may at any time assign and delegate to one or more Eligible Assignees that are not Affiliates of the Borrower (provided that no written consent of either Agent shall be required in connection with any assignment each, an “Assignee” and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank“Successor Lender”) (each an "Assignee") all, all or any ratable part of all, of the Loans, the Commitments any Term Loans and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000Lender hereunder and under the other Loan Documents; provided, however, provided that (i) except with respect to an assignment by a Lender to an entity that is an Affiliate of such Lender, another Lender or a Related Fund, (x) the Company prior written consent of the Administrative Agent shall be required for such assignment and (y) so long as no Event of Default has occurred and is continuing, the prior written consent of the Borrower shall be required for such assignment (which consent shall not be unreasonably delayed, withheld or conditioned), (ii) the Initial Lenders’ obligation to fund the Subsequent Loan may not be assigned without the Borrower’s written consent to be granted in the Borrower’s sole discretion and (iii) after acceleration pursuant to Section 11.3, any Initial Lender, Assignee or Successor Lender may assign to any Person. Any assignment permitted by the previous sentence must comply with the following requirements: (A) each such assignment by a Lender of its Term Loans or its Term Notes shall be made in such a manner so that the same portion of its Term Loans or its Term Notes is assigned to the Assignee; (B) in the case of an assignment of any part of a Term Loan to any Assignee, such assignment shall not be for an amount less than $10,000,000 or a higher integral multiple of $1,000,000 in excess thereof (or 100% of the assigning Lender’s remaining Term Loans) in each instance; and (C) the Borrower and the Agents may continue to deal solely and directly with such Bank the assigning Lender in connection with the interest so assigned to an Assignee until (A1) written notice of such assignment, together with payment instructions, addresses addresses, contact information and related information and any required tax forms with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank assigning Lender and the Assignee; , (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C2) the assignor Bank assigning Lender or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; 3,500 and (ii3) if the assignor Bank or any of its Affiliates is a Swap Provider with respect assigning Lender shall have delivered to any Specified Swap Contract, such Bank shall not assign all of its interest the Borrower and the Administrative Agent an Assignment and Acceptance substantially in the 76 128 Loans form of Exhibit F hereto (an “Assignment and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate Acceptance”) with respect to such Specified Swap Contracts, with assignment from the consent of the Companyassigning Lender. (b) From and after the date that the Administrative Agent notifies the assignor Bank assigning Lender and the Borrower that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to, if required) an executed Assignment and Acceptance and payment of the above-referenced processing feefee and the Borrower has provided its consent to such assignment, if required (such consent not to be unreasonably delayed, withheld or conditioned), (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender hereunder and under the other Loan Documents, and this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to effect the addition of the Assignee, and any reference to the assigning Lender hereunder or under the other Loan Documents shall thereafter refer to such Lender and to the Assignee to the extent of their respective interests, and (ii) the assignor Bank assigning Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan DocumentsDocuments but shall continue to be entitled to the benefits of Section 2.8, Section 4.5, Section 13.1 and Section 13.2. At the time of each assignment pursuant to Section 13.11(a) to a Person which is not already a Lender hereunder, the respective assignee Lender shall provide to the Borrower and the Administrative Agent the appropriate Internal Revenue Service Forms described in Section 4.5(f). Any assignment or transfer by a Lender of rights and obligations under this Agreement that does not comply with this Section 13.11(a) and (b) shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (d). (c) Within five Business Days fifteen (15) days after its receipt of the Borrower has received a notice by from the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, if requested by the Company Assignee or the assigning Lender, the Borrower shall execute and deliver to the Administrative Agent, Agent new Term Notes evidencing such the Assignee's ’s assigned Term Loans and Commitment and, if the assignor Bank assigning Lender has retained a portion of its Loans and its CommitmentTerm Loans, replacement Term Notes in reflecting the principal amount of the Term Loans retained by the assignor Bank assigning Lender (such Term Notes to be in exchange for, but not in payment of, the Term Notes held by such BankLender). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank Lender (the “Originating Lender”) may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrower (a "Participant") participating interests in any Term Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) each such Participant shall be an Eligible Assignee, (ii) the originating Bank's Originating Lender’s obligations under this Agreement shall remain unchanged, (iiiii) the originating Bank Originating Lender shall remain solely responsible for the performance of such obligations, (iiiiv) the Company Borrower and the Agents shall continue to deal solely and directly with the originating Bank Originating Lender in connection with the originating Bank's Originating Lender’s rights and obligations under this Agreement and the other Loan Documents, and (ivv) no Bank Lender shall transfer or grant any participating interest under which the Participant has shall have rights to approve any amendment to 01, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require consent of any affected Lender or all of the Lenders as described in Section 13.10. In the case of any such participation, the Participant shall not have any rights under this Agreement, Agreement or any of the other Loan Documents, Documents (the Participant’s rights against the Originating Lender in respect of such Participation to be those set forth in the agreement executed by the Originating Lender in favor of the Participant relating thereto) and all amounts payable by the Company Borrower hereunder shall be determined as if such Bank Lender had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding A Participant shall not be entitled to receive any other provision in this Agreementgreater payment with respect to a participation sold to such Participant than the applicable Lender would have been entitled to receive under Section 2.8 and 4.5, unless the sale of the participation to such Participant is made with the Borrower’s prior written consent. A Participant shall not be entitled (i) to the benefits of Section 4.5 that the applicable Lender is entitled to unless such Participant complies with Section 4.5(f), or (ii) with respect to a Participation that has been consented to by the Borrower pursuant to the previous sentence, to receive any greater payment with respect to the participation sold to such Participant than the applicable Lender would have been entitled to receive under Section 4.5 unless the Participant (x) would be entitled to amounts under Section 4.5 if it were treated as an assignee as of the date of such participation and (y) complies with Section 4.5(f) by providing to the Borrower and the Administrative Agent each form and certificate that would be required to be provided to them pursuant to Section 4.5(f) as if the Participant was a Lender. (f) Subject to Section 13.11(a) hereof, any Bank Lender may at any time create a security interest in, pledge or pledge, assign all or any portion of its rights under and interest in this Agreement and the Note Term Loans held by it in favor of any Federal Reserve Bank in accordance with Regulation A as collateral security to secured obligations of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, Lender and such Federal Reserve Bank may enforce this Section 13.11 shall not apply to any such pledge or security assignment. No such pledge or assignment shall release the assigning Lender from its obligations hereunder or substitute any such pledge or assignee for such Lender as a party hereto. (g) In the event that any Lender sells a participation in a Term Loan, such Lender shall, acting solely for this purpose as an agent of the Borrower, maintain a register on which it enters the name and address of all Participants in the Term Loans held by it and the principal amount (including the amount of PIK Interest and any stated interest thereon) of the portion of the Loan which is the subject of the participation (the “Participation Register”) and each repayment in respect of the principal amount of the portion of the Term Loan held by each Participant. A Term Loan may be participated in whole or in part only by registration of such participation on the Participation Register. Any transfer of such participation may be effected only by the Registration of such transfer on the Participation Register. The entries in the Participation Register shall be conclusive absent manifest error and such Lender shall treat such participants whose name is recorded in the Participation Register as the owner of such participation for all purposes of this Agreement, notwithstanding any manner permitted under applicable lawnotice to the contrary. The Participation Register shall be available for inspection by the Borrower or the Administrative Agent at any reasonable time upon reasonable prior notice.

Appears in 3 contracts

Samples: Credit Agreement (First Wind Holdings Inc.), Credit Agreement (First Wind Holdings Inc.), Credit Agreement (First Wind Holdings Inc.)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the AgentsAgent and the Borrower, which consents consent shall not be unreasonably withheldwithheld (except Borrower's consent shall not be required if (i) a Default or an Event of Default exists and is continuing, any other Bankand (ii) the Eligible Assignee is not engaged in the securities brokerage business or the investment advisory business), may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Agent shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitments, and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of $5,000,00010,000,000; provided, however, that (i) the Company and Borrower and, the Agents Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank Lender and the Assignee; (B) such Bank Lender and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E D ("Assignment and Acceptance") together with any Note or Notes subject to such assignment assignment; and (C) the assignor Bank Lender or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender and the Borrower that it has received (and the Borrower and the Agent have provided its their consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing feefee (and provided that it consents to such assignment in accordance with subsection 10.8(a)), the Company Borrower shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank Lender has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans Commitment retained by the assignor Bank Lender (such Notes to be in exchange for, but not in payment of, the Notes held by such BankLender). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank assignor Lender pro tanto. (d) Any Bank Lender may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrower (a "Participant") participating interests in any Loans, the Commitment of that Bank Lender and the other interests of that Bank Lender (the "originating BankLender") hereunder and under the other Loan Documents; provided, however, that (i) the originating BankLender's obligations under this Agreement shall remain unchanged, (ii) the originating Bank Lender shall remain solely responsible for the performance of such obligations, (iii) the Company Borrower, and the Agents Agent shall continue to deal solely and directly with the originating Bank Lender in connection with the originating BankLender's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank Lender shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any consent or waiver with respect to, this Agreement or any other Loan Document. Any Lender that sells a participation to any Person that is a "foreign corporation, partnership or trust" within the meaning of the other Loan Documents, and all amounts payable Code shall include in its participation agreement with such Person a covenant by such Person that such Person will comply with the Company hereunder shall be determined provisions of Section 9.10 as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due Person were a Lender and unpaid, or shall have been declared or shall have become due provide that the Agent and payable upon the occurrence of an Event of Default, each Participant Borrower shall be deemed to have the right third party beneficiaries of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreementsuch covenant. (e) Notwithstanding any other provision in this Agreement, any Bank Lender may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14ss.203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law. (f) Any Lender (a "Granting Lender") may, with notice to the Agent, grant to a special purpose funding vehicle (an "SPC") the option to fund all or any part of any Loan that such Granting Lender would otherwise be obligated to fund pursuant to this Agreement. The funding of a Loan by an SPC hereunder shall utilize the Revolving Credit Commitment of the Granting Lender to the same extent, and as if, such Loan were funded by such Granting Lender. Each party hereto hereby agrees that no SPC shall be liable for any indemnity or payment under this Agreement for which a Lender would otherwise be liable for so long as, and to the extent, the Granting Lender provides such indemnity or makes such payment. Notwithstanding anything to the contrary contained in the foregoing or anywhere else in this Agreement, (i) nothing herein shall constitute a commitment by any SPC to fund any Loan, (ii) if an SPC elects not to exercise such option or otherwise fails to fund all or any part of such Loan, the Granting Lender shall be obligated to fund such Loan pursuant to the terms hereof, and (iii) the Borrower and Agent shall continue to deal exclusively with the Granting Lender and any funding by an SPC hereunder shall not constitute an assignment, assumption or participation of any rights or obligations of the Granting Lender. Any SPC may disclose on a confidential basis any non-public information relating to its funding of Loans to any rating agency, commercial paper dealer or provider of any surety or guarantee to such SPC, provided, as a condition precedent to such disclosure, (A) such agency, dealer or provider has delivered to such Granting Lender for the benefit of Borrower a written confidentiality agreement substantially similar to Section 10.9, and (B) simultaneous with or prior to such disclosure, such Granting Lender has given written notice to Borrower of the agency, dealer or provider to which such disclosure is being made and the contents of such disclosure. This Section may not be amended without the prior written consent of each Granting Lender, all or any part of whose Loan is being funded by an SPC at the time of such amendment.

Appears in 3 contracts

Samples: Credit Agreement (Schwab Charles Corp), Credit Agreement (Schwab Charles Corp), Credit Agreement (Schwab Charles Corp)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the AgentsAgent and the Borrower, which consents consent shall not be unreasonably withheldwithheld (except Borrower’s consent shall not be required if (i) a Default or an Event of Default exists and is continuing, any other Bankand (ii) the Eligible Assignee is not engaged in the securities brokerage business or the investment advisory business), may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Agent shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitments, and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of $5,000,00010,000,000; provided, however, that (i) the Company and Borrower and, the Agents Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank Lender and the Assignee; (B) such Bank Lender and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E F ("Assignment and Acceptance") together with any Note or Notes subject to such assignment assignment; and (C) the assignor Bank Lender or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender and the Borrower that it has received (and the Borrower and the Agent have provided its their consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing feefee (and provided that it consents to such assignment in accordance with subsection 10.8(a)), the Company Borrower shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's ’s assigned Loans and Commitment and, if the assignor Bank Lender has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans Commitment retained by the assignor Bank Lender (such Notes to be in exchange for, but not in payment of, the Notes held by such BankLender). Immediately upon each Assignee's ’s making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank assignor Lender pro tanto. (d) Any Bank Lender may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrower (a "Participant") participating interests in any Loans, the Commitment of that Bank Lender and the other interests of that Bank Lender (the "originating Bank"Lender”) hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's Lender’s obligations under this Agreement shall remain unchanged, (ii) the originating Bank Lender shall remain solely responsible for the performance of such obligations, (iii) the Company Borrower, and the Agents Agent shall continue to deal solely and directly with the originating Bank Lender in connection with the originating Bank's Lender’s rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank Lender shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any consent or waiver with respect to, this Agreement or any other Loan Document. Any Lender that sells a participation to any Person that is a “foreign corporation, partnership or trust” within the meaning of the other Loan Documents, and all amounts payable Code shall include in its participation agreement with such Person a covenant by such Person that such Person will comply with the Company hereunder shall be determined provisions of Section 9.10 as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due Person were a Lender and unpaid, or shall have been declared or shall have become due provide that the Agent and payable upon the occurrence of an Event of Default, each Participant Borrower shall be deemed to have the right third party beneficiaries of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreementsuch covenant. (e) Notwithstanding any other provision in this Agreement, any Bank Lender may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14§203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law. (f) Any Lender (a “Granting Lender”) may, with notice to the Agent, grant to a special purpose funding vehicle (an “SPC”) the option to fund all or any part of any Loan that such Granting Lender would otherwise be obligated to fund pursuant to this Agreement. The funding of a Loan by an SPC hereunder shall utilize the Revolving Credit Commitment of the Granting Lender to the same extent, and as if, such Loan were funded by such Granting Lender. Each party hereto hereby agrees that no SPC shall be liable for any indemnity or payment under this Agreement for which a Lender would otherwise be liable for so long as, and to the extent, the Granting Lender provides such indemnity or makes such payment. Notwithstanding anything to the contrary contained in the foregoing or anywhere else in this Agreement, (i) nothing herein shall constitute a commitment by any SPC to fund any Loan, (ii) if an SPC elects not to exercise such option or otherwise fails to fund all or any part of such Loan, the Granting Lender shall be obligated to fund such Loan pursuant to the terms hereof, and (iii) the Borrower and Agent shall continue to deal exclusively with the Granting Lender and any funding by an SPC hereunder shall not constitute an assignment, assumption or participation of any rights or obligations of the Granting Lender. Any SPC may disclose on a confidential basis any non-public information relating to its funding of Loans to any rating agency, commercial paper dealer or provider of any surety or guarantee to such SPC, provided, as a condition precedent to such disclosure, (A) such agency, dealer or provider has delivered to such Granting Lender for the benefit of Borrower a written confidentiality agreement substantially similar to Section 10.9, and (B) simultaneous with or prior to such disclosure, such Granting Lender has given written notice to Borrower of the agency, dealer or provider to which such disclosure is being made and the contents of such disclosure. This Section may not be amended without the prior written consent of each Granting Lender, all or any part of whose Loan is being funded by an SPC at the time of such amendment.

Appears in 3 contracts

Samples: Credit Agreement (Schwab Charles Corp), Credit Agreement (Schwab Charles Corp), Credit Agreement (Schwab Charles Corp)

Assignments, Participations, etc. (a) Any Agent may, and with the written consent of the Agents, which consents shall not be unreasonably withheld, any other Bank, Bank may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent all or a portion of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other its rights and obligations under this Agreement (including all or a portion of such Bank hereunder, in a minimum amount of $5,000,000its Revolving Commitment and the Loans at the time owing to it); provided, however, provided that (i) except in the case of an assignment of the entire remaining amount of the assigning Bank’s Revolving Commitment and the Loans at the time owing to it or in the case of an assignment to a Bank or an Affiliate of a Bank or an Approved Fund with respect to a Bank, the amount of the Revolving Commitment (which for this purpose includes Loans outstanding thereunder) subject to each such assignment (determined as of the date the Assignment and Assumption Agreement, as hereinafter defined, with respect to such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000, unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Company otherwise consent (each such consent not to be unreasonably withheld or delayed), (ii) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Bank’s rights and the Agents may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information obligations under this Agreement with respect to the Assignee, Loans and/or the Revolving Commitment assigned and (iii) the parties to each assignment shall have been given execute and deliver to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance agreement, substantially in the form of Exhibit E C hereto ("an “Assignment and Acceptance") Assumption Agreement”), together with any Note or Notes subject a processing and recordation fee of $3,500, and the Eligible Assignee, if it shall not be a Bank, shall deliver to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in an Administrative Questionnaire. Subject to acceptance and recording thereof by the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect Administrative Agent pursuant to any Specified Swap ContractSection 2.02(a), such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) From from and after the effective date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed specified in each Assignment and Acceptance and payment of Assumption Agreement, the above-referenced processing fee, (i) the Eligible Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and AcceptanceAssumption Agreement, shall have the rights and obligations of a Bank under the Loan Documentsthis Agreement, and (ii) the assignor assigning Bank thereunder shall, to the extent that rights and obligations hereunder and under of the other Loan Documents have been interest assigned by it pursuant to such Assignment and AcceptanceAssumption Agreement, relinquish its rights and be released from its obligations under this Agreement (and, in the Loan Documents. (c) Within five Business Days after its receipt case of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Assumption Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments covering all of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's ’s rights and obligations under this Agreement and Agreement, such Bank shall cease to be a party hereto but shall continue to be entitled to the other Loan Documentsbenefits of Sections 3.01, 3.03, 10.04, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement10. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 3 contracts

Samples: Credit Agreement (General Mills Inc), 364 Day Credit Agreement (General Mills Inc), Credit Agreement (General Mills Inc)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsBorrower and the Agent, which consents consent of the Borrower shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided provided, that no written consent of either the Borrower or the Agent shall be required in connection with any assignment and delegation by a Bank to (x) an Eligible Assignee that is an Affiliate of such BankBank or (y) another Bank (each an "Assignee"”)) all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) the Company Borrower and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E D ("an “Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]4,000; and (ii) if provided, further, each Bank’s Pro Rata Share shall be the assignor Bank or any same in each type of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the CompanyCommitment. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and the Borrower and the Agent have provided its their consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan DocumentsDocuments (and, in the case of an Assignment and Acceptance covering all of the assigning Bank’s rights and obligations under this Agreement, such Bank shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 4.1, 4.3, 4.4, 12.4 and 12.5 with respect to facts and circumstances occurring prior to the effective date of such assignment). (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing feefee (and provided, that the Borrower consents to such assignment in accordance with Section 12.9(a)), the Company shall Borrower shall, if requested by the Assignee or the assignor Bank thereunder, execute and deliver to the Administrative Agent, Agent new Notes evidencing such Assignee's ’s assigned Loans and Commitment Commitments and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans and Commitments retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank)) and the assignor Bank shall deliver its Note or Notes marked “exchanged” or “cancelled,” as applicable, to the Agent. Immediately upon each Assignee's making its payment of the processing fee payment under the Assignment and AcceptanceAcceptance and the satisfaction of the other conditions set forth in Section 12.9(a), this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) The Agent shall maintain at its address referred to in Schedule 12.2 a copy of each Assignment and Acceptance delivered to and accepted by it and a register for the recordation of the names and addresses of the Banks and the Commitment of, and principal amount of the Loans owing to, each Bank from time to time (the “Register”). The entries in the Register shall be conclusive and binding for all purposes, absent manifest error, and the Borrower, the Agent and the Banks may treat each Person whose name is recorded in the Register as a Bank hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Borrower or any Bank at any reasonable time and from time to time upon reasonable prior notice. Any assignment of any Loan or other obligations shall be effective only upon an entry with respect thereto being made in the Register. (e) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrower (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating “Originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Originating Bank's ’s obligations under this Agreement shall remain unchanged, (ii) the originating Originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company Borrower, the Agent, and the Agents other Banks shall continue to deal solely and directly with the originating Originating Bank in connection with the originating Originating Bank's ’s rights and obligations under this Agreement and the other Loan Documents, and (iv) no . Any agreement or instrument pursuant to which a Bank sells such a participation shall provide that such Bank shall transfer retain the sole right to enforce this Agreement and to approve any amendment, modification or grant waiver of any participating interest under which provision of this Agreement; provided that such agreement or instrument may provide that such Bank will not, without the Participant has rights to 01consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to Section 12.1 that directly affects such Participant. In the case of any such participation, the Participant shall be entitled to the benefit of Sections 4.1, 4.3, 4.4 and 12.5 as though it were also a Bank hereunder (but not in any greater amounts than would have been payable to the Bank selling the participation if no participation were sold), and not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company Borrower hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement, provided such Participant agrees to be subject to Section 2.14 as though it were a Bank. (ef) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest Nothing contained in this Agreement and the Note held by it shall prevent a Bank from pledging its interest in favor of any its Loans to a Federal Reserve Bank in the Federal Reserve System of the United States in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law. (g) After payment in full of, and satisfaction of all Obligations under, any Note, the Bank or other party holding such Note agrees to promptly return such Note marked “Paid in Full” to the Borrower. (h) Notwithstanding the foregoing provisions of this Section 12.9, no assignment or participation may be made if such assignment or participation involves, or could involve, the use of assets that constitute, or may be deemed under ERISA, the Code or any other applicable law, or any ruling or regulation issued thereunder, or any court decision, to constitute the assets of any employee benefit plan (as defined in section 3(3) of ERISA) or any plan as defined in section 4975(e)(1) of the Code).

Appears in 3 contracts

Samples: Credit Agreement (Ugi Corp /Pa/), Credit Agreement (Amerigas Partners Lp), Credit Agreement (Amerigas Partners Lp)

Assignments, Participations, etc. (ai) Any Agent Lender may, and with the written consent of the AgentsAgent and the Borrower, which consents consent shall not be unreasonably withheldwithheld or delayed (except Borrower’s consent shall not be required if a Default or an Event of Default exists and is continuing), any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Agent shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitments, and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of $5,000,00010,000,000; provided, however, that (ix) the Company and Borrower and, the Agents Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank Lender and the Assignee; (B) such Bank Lender and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E F ("Assignment and Acceptance") together with any Note or Notes subject to such assignment assignment; and (C) the assignor Bank Lender or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; 3,500 and (iiy) if the assignor Bank no such assignment shall be made to any Defaulting Lender or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this AgreementSubsidiaries, or any of the other Loan DocumentsPerson who, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except thatupon becoming a Lender hereunder, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as would constitute a Bank under this AgreementDefaulting Lender. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 3 contracts

Samples: Credit Agreement (Schwab Charles Corp), Credit Agreement (Schwab Charles Corp), Credit Agreement (Schwab Charles Corp)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the AgentsCompany at all times other than during the existence of an Event of Default and the Agent, the Swing Line Lender and the Issuer, which consents shall not be unreasonably withheldwithheld or delayed, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (each an “Assignee”) all, or any part of all, of the Loans, the Commitments, the L/C Obligations and the other rights and obligations of such Lender hereunder, in a minimum amount of $5,000,000 or, if less, the total amount of such Lender’s outstanding Loans and/or Commitments (provided that no written consent of either Agent the Company, the Agent, the Swing Line Lender or the Issuer shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000Lender); provided, however, that (i) the Company Company, the Agent and the Agents Co-Administrative Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Company, the Agent and the Co-Administrative Agent by such Bank Lender and the Assignee; (Bii) such Bank Lender and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E D ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank Lender or Assignee has paid to each the Administrative Co-administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company2,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender that it has received (and and, if required, provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder (including without limitation any obligations under Section 10.10) have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, (and, if required, provided that it consents to such assignment in accordance with subsection 11.08(a)), the Company shall execute and deliver to the Administrative Agent, Agent new Notes evidencing such Assignee's ’s assigned Loans and Commitment and, if the assignor Bank Lender has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank Lender (such Notes to be in exchange for, but not in payment of, the Notes held by such BankLender). Immediately upon each Assignee's ’s making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank Lender pro tanto. (d) Any Bank Lender may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank Lender and the other interests of that Bank Lender (the "originating Bank"Lender”) hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's Lender’s obligations under this Agreement shall remain unchanged, (ii) the originating Bank Lender shall remain solely responsible for the performance of such obligations, (iii) the Company Company, each Issuer and the Agents Agent shall continue to deal solely and directly with the originating Bank Lender in connection with the originating Bank's Lender’s rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank Lender shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to 01, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Lenders as described in clause (a) (but only in respect of any increase of any Commitment of any originating Lender), (b) or (e) of the first proviso to Section 11.01. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 4.01, or any of the other Loan Documents4.03 and 11.05 as though it were also a Lender hereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank Lender may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note Notes held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14§203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 2 contracts

Samples: Credit Agreement, Credit Agreement (Regis Corp)

Assignments, Participations, etc. (a) Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby and, to the extent expressly contemplated hereby, the Affiliates of each of the Administrative Agent and the Lenders and Issuing Banks) any legal or equitable right, remedy or claim under or by reason of this Agreement. (b) Any Lender may assign to one or more assignees (each, an "Assignee") all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it); provided that (i) except in the case of an assignment to a Lender or a Lender Affiliate, each of the Borrower and the Administrative Agent may, and with the each Issuing Bank must give their prior written consent of the Agents, to such assignment (which consents consent shall not be unreasonably withheld), any other Bank, may at any time assign and delegate (ii) except in the case of an assignment to one a Lender or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any a Lender Affiliate or an assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loansentire remaining amount of the assigning Lender's Commitment, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that the Commitment of the assigning Lender subject to each such assignment (i) determined as of the Company date the Assignment and the Agents may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information Acceptance with respect to the Assignee, shall have been given such assignment is delivered to the Company Administrative Agent) shall not be less than $5,000,000 unless each of the Borrower and the Administrative Agent by such Bank otherwise consent, (iii) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender's rights and obligations under this Agreement, except that this clause (iii) shall not apply to rights in respect of outstanding Bid Loans, (iv) the Assignee and the Assignee; (B) such Bank Assignor in respect of each assignment shall execute and its Assignee shall have delivered deliver to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") , together with any Note or Notes subject to such assignment a processing and recordation fee of $3,500, and (Cv) the assignor Bank or Assignee has paid Assignee, if it shall not be a Lender, shall deliver to each the Administrative Agent a processing fee in the amount of its $[______________]an Administrative Questionnaire; and (ii) if the assignor Bank or provided further that any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. Borrower otherwise required under this paragraph shall not be required if an Event of Default under clause (bf) From or (g) of Section 8.01 has occurred and is continuing. Subject to acceptance and recording thereof pursuant to paragraph (d) of this Section, from and after the effective date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed specified in each Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documentsthis Agreement, and (ii) the assignor Bank assigning Lender thereunder shall, to the extent that rights and obligations hereunder and under of the other Loan Documents have been interest assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the Loan Documentscase of an Assignment and Acceptance covering all of the assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 3.05, 3.08, 3.09, 3.10, 3.11 and 10.05)(but only to the extent such Lender notifies the Borrower of any claim under such Section within 90 days after it obtains knowledge thereof). Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (e) of this Section. (c) Within five Business Days after The Administrative Agent, acting for this purpose as an agent of the Borrower, shall maintain at one of its receipt offices in the United States a copy of notice by the Administrative Agent that it has received an executed each Assignment and Acceptance delivered to it and payment a register for the recordation of the processing feenames and addresses of the Lenders, and the Company shall execute Commitment of, and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained owing to, each Lender pursuant to the terms hereof from time to time (the "Register"). The entries in the Register shall be conclusive, and the Borrower, the Administrative Agent, the Issuing Banks and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the assignor Bank (such Notes Borrower, and any Lender and any Issuing Bank, at any reasonable time and from time to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately time upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tantoreasonable prior notice. (d) Upon its receipt of a duly completed Assignment and Acceptance executed by an assigning Lender and an Assignee, the Assignee's completed Administrative Questionnaire (unless the Assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) of this Section and any written consent to such assignment required by paragraph (b) of this Section, the Administrative Agent shall accept such Assignment and Acceptance and record the information contained therein in the Register. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph. (e) Any Lender may, without the consent of the Borrower, any Issuing Bank may at any time or the Administrative Agent, sell participations to one or more commercial banks or other Persons not Affiliates of the Company entities (each a "Participant") participating interests in any Loans, the all or a portion of such Lender's rights and obligations under this Agreement (including all or a portion of its Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan DocumentsLoans owing to it); provided, however, provided that (i) the originating Banksuch Lender's obligations under this Agreement shall remain unchanged, (ii) the originating Bank such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, obligations and (iii) the Company Borrower, the Administrative Agent, the Issuing Banks and the Agents other Lenders shall continue to deal solely and directly with the originating Bank such Lender in connection with the originating Banksuch Lender's rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and the other Loan Documentsto approve any amendment, and (iv) no Bank shall transfer modification or grant any participating interest under which the Participant has rights to 01. In the case waiver of any provision of this Agreement; provided that such participationagreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the proviso to Section 10.02 that affects such Participant. Subject to paragraph (f) of this Section, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, Borrower agrees that each Participant shall be deemed entitled to have the right benefits of set-off in respect of its participating interest in amounts owing under this Agreement Sections 3.05 (other than 3.05(f)), 3.06, 3.08, 3.09 and 3.10 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the amount extent permitted by law, each Participant also shall be entitled to the benefits of its participating interest Section 10.06 as though it were owing directly a Lender, provided such Participant agrees to be subject to Section 3.06 as though it as were a Bank under this AgreementLender. (ef) Notwithstanding A Participant shall not be entitled to receive any other provision in this Agreementgreater payment under Section 3.05, any Bank 3.08, 3.09 or 3.10 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower's prior written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 3.05 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 3.05(f) as though it were a Lender. (g) Any Lender may at any time create pledge or assign a security interest in, or pledge, in all or any portion of its rights under and interest in this Agreement and the Note held by it in favor to secure obligations of any such Lender to a Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14Bank, and such Federal Reserve Bank may enforce this Section shall not apply to any such pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest in shall release a Lender from any manner permitted under applicable lawof its obligations hereunder or substitute any such pledgee or Assignee for such Lender as a party hereto.

Appears in 2 contracts

Samples: Credit Agreement (Tyson Foods Inc), Credit Agreement (Tyson Foods Inc)

Assignments, Participations, etc. (a) Any Agent Subject to Section 10.13(b) below, any Lender may, and with the written prior consent of the Agents, Borrower (which consents consent shall not be unreasonably withheldwithheld or delayed or conditioned, however, it will not be considered unreasonable for the Borrower to withhold consent if any other Banksuch assignment could have the effect of increasing the Borrower’s or any Guarantor’s costs under the Financing Documents, may due to new or increased Taxes, or otherwise), at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, all or any ratable part of all, of the Loans, the Commitments its Loan Commitment or Loan and the other rights and obligations of such Bank hereunderLender hereunder and under the other Financing Documents, in to another bank or financial institution. Any partial assignment of a minimum amount Loan Commitment or any Loan under this Section 10.13(a) shall not be less than $10,000,000 or any integral multiple of $5,000,000; provided5,000,000 in excess thereof. (b) Notwithstanding Section 10.13(a) above, howeverany Lender may, that without the prior written consent of the Borrower, assign all or any part of its Loan Commitment or Loan and the other rights and obligations of such Lender hereunder and under the other Financing Documents (i) the Company and the Agents may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until Affiliate of such Lender, (ii) to another Lender, (iii) to any Person if following the occurrence of an Event of Default, or (iv) if requested to do so by the Borrower under Section 2.13; provided that only with respect to assignments to an Affiliate of a Lender or another Lender (A) the assigning Lender shall have given at least ten (10) Business Days’ prior written notice to the Borrower, the Administrative Agent and the Security Agent of such proposed assignment, together with payment instructions, addresses and related information with respect to the Assigneeassignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank proposed assignment would not result in any increase in Taxes or increased cost to the Borrower, (C) any partial assignment of a Loan Commitment or any Loan under this Section 10.13(b) shall not be less than $10,000,000 or any integral multiple of $5,000,000 in excess thereof, and (D) each such assignment by a Lender of its Assignee Loans or its Loan Commitment shall be made in such a manner so that the same portion of its Loans and Loan Commitment is assigned to the assignee. With respect to any assignment under this Section 10.13, the Borrower, the Administrative Agent and the Security Agent may continue to deal solely and directly with the assigning Lender in connection with the interest so assigned until the assigning Lender shall have delivered to the Company Borrower, the Administrative Agent and the Administrative Security Agent an Assignment and Acceptance substantially in the form of Exhibit E C attached hereto ("an “Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with assignment from the consent of the Companyassigning Lender. (bc) From Subject to Section 8.10, from and after the date that the Administrative Agent notifies the assignor Bank assigning Lender and the Borrower that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing feeAcceptance, (i) the Assignee assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender hereunder and under the Loan other Financing Documents, and this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to effect the addition of the assignee, and any reference to the assigning Lender hereunder or under the other Financing Documents shall thereafter refer to such Lender and to the assignee to the extent of their respective interests, and (ii) the assignor Bank assigning Lender shall, to the extent that rights and obligations hereunder and under the other Loan Financing Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Financing Documents; provided that any Lender that assigns all of its Loan Documents. (c) Within five Business Days after its receipt Commitment and Loans hereunder in accordance with Section 10.13 shall continue to have the benefit of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver indemnification provisions under this Agreement to the Administrative Agentextent any indemnification relates to facts which occurred while it was a Lender (including Sections 2.8, new Notes evidencing 2.10, 2.11, 10.1 and 10.2), which shall survive as to such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tantoLender. (d) Any Bank may Lender (the “Originating Lender”) may, at its own cost, at any time after the initial Borrowing has occurred, sell to one or more commercial banks bank, financial institution, trust, fund or other Persons entity which is regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other financial assets which is not Affiliates an Affiliate of the Company Borrower, a Competitor or an Affiliate of a Competitor (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documentsits Loan; provided, however, that (i) the originating Bank's Originating Lender’s obligations under this Agreement shall remain unchanged, (ii) the originating Bank Originating Lender shall remain solely responsible for the performance of such obligations, (iii) the Company Borrower and the Agents Administrative Agent shall continue to deal solely and directly with the originating Bank Originating Lender in connection with the originating Bank's Originating Lender’s rights and obligations under this Agreement and the other Loan Financing Documents, (iv) any such sale of participating interest shall not result in any increase in Taxes or increased cost to the Borrower or Guarantors, and (ivv) no Bank Lender shall transfer or grant any participating interest under which the Participant has shall have rights to approve any amendment to 01, or any consent or waiver with respect to, this Agreement or any other Financing Document. In the case of any such participation, the Participant shall not have any rights or claims under this Agreement, Agreement or any of the other Loan Documents, Financing Documents (the Participant’s rights against the Originating Lender in respect of such participation to be those set forth in the agreement executed by the Originating Lender in favor of the Participant relating thereto) and all amounts payable by the Company Borrower hereunder shall be determined as if such Bank Lender had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision contained in this AgreementAgreement or any other Financing Document to the contrary, any Bank Lender may at any time create a pledge or assign as collateral security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note Loans held by it it; provided that (i) the pledge or assignment as collateral security, its enforcement and payment thereunder would not result in favor any increased costs or Taxes on the Borrower or the Guarantors, and (ii) any payment in respect of any Federal Reserve Bank such assigned Loans made by the Borrower to or for the account of the assigning or pledging Lender in accordance with Regulation A the terms of this Agreement shall satisfy the Borrower’s obligations hereunder in respect to such assigned Loan to the extent of such payment. No such assignment shall release the assigning Lender from its obligations hereunder. (f) If: (i) a Lender assigns or transfers any of its rights or obligations under the Financing Documents or changes its Applicable Lending Office; and (ii) as a result of circumstances existing at the date the assignment, transfer or change occurs, the Borrower would be obliged to make a payment to a permitted assignee or Lender acting through its new Applicable Lending Office under Sections 2.8 or 2.10, then the permitted assignee or Lender acting through its new Applicable Lending Office is only entitled to receive payment under those Sections to the same extent as the assigning Lender or Lender acting through its previous Applicable Lending Office would have been if the assignment, transfer or change had not occurred. (g) Subject to actions permitted under clause 5.2(a) of the FRB Fiduciary Assignment, the Borrower shall not assign or U.S. Treasury Regulation 31 CFR Section203.14, otherwise transfer any of its rights and such Federal Reserve Bank may enforce such pledge obligations under this Agreement or security interest in any manner permitted under applicable lawother Financing Document without the prior written consent of the Administrative Agent (acting on the instructions of all Lenders).

Appears in 2 contracts

Samples: Credit Agreement (Nii Holdings Inc), Credit Agreement (Nii Holdings Inc)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsBorrower (at all times other than during the existence of an Event of Default) and the Agent, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees Persons (provided that no written consent of either the Borrower or the Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank or to another Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitment --------- Obligations and the other rights and obligations of such Bank hereunderunder the Transaction Documents, in a minimum amount of $5,000,0003,000,000; provided, however, -------- ------- that (i) the Company Borrower and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E I ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank or ------------------------- Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder under the Transaction Documents have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documentsthis Agreement, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Transaction Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and AcceptanceSection 10.5(a), this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefromtherefrom and the Agent shall deliver to the Borrower and each Bank revised Schedules 1 and 2 reflecting the reallocation of Commitments and address changes. The Commitment portion of the Commitments allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrower (a "Participant") participating ----------- interests in any LoansLoans made by such Bank, the Commitment Obligations of that such Bank and the other interests of that such Bank (the "originating BankOriginator") hereunder and under ---------- the other Loan Transaction Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.-------- -------

Appears in 2 contracts

Samples: Credit Agreement (Wireless Facilities Inc), Credit Agreement (Wireless Facilities Inc)

Assignments, Participations, etc. (a) Any Agent The Bank may, and with the written consent of the Agents, Company (which consents consent shall not be unreasonably be withheld, any other Bank, may ) at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitment, and the other rights and obligations of such the Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) . Upon the Company and the Agents may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice making of such assignmentan assignment the Assignee shall, together with payment instructionsfor all purposes, addresses and related information with respect to be considered the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the CompanyBank" under this Agreement. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons financial institutions not Affiliates of the Company (a "Participant") participating interests in any ratable part (but not all) of any Loans, the Commitment of that the Bank and the other interests of that the Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents Company, shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no the Bank shall not transfer or grant any participating interest under which the Participant has rights to approve any amendment to 01, or any consent or waiver with respect to, this Agreement or any other Loan Document. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such the Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (ec) Notwithstanding any other provision in this Agreement, any the Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14Section 203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 2 contracts

Samples: Credit Agreement (Dendrite International Inc), Credit Agreement (Dendrite International Inc)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the AgentsBorrower (at all times other than during the existence of a Default or an Event of Default) and the Administrative Agent, which consents shall not be unreasonably withheldwithheld or delayed, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Borrower or the Administrative Agent shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank Lender hereunder, provided, however, that the aggregate principal amount of the Commitments and Loans assigned by any Lender to someone other than another Lender shall be in a minimum amount of $5,000,000; provided5,000,000 (or if less, howeverthe entire Commitments then held by such Lender) and integral multiplies of $1,000,000 thereafter and after giving effect to any such assignment by a Lender, that the aggregate amount of the Commitments and/or Loans held by such assigning Lender is at least $5,000,000 (i) unless such Lender has assigned the Company entire Commitment and Loans then held by it). The Borrower and the Agents Administrative Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank Lender and the Assignee; (Bii) such Bank Lender and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank Lender or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender that it has received (and provided its consent and obtained the consent of the Documentation Agent) required consents with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 2 contracts

Samples: Credit Agreement (Montpelier Re Holdings LTD), Credit Agreement (Montpelier Re Holdings LTD)

Assignments, Participations, etc. (a) Any Agent may, and with the written consent of the Agents, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) the Company and the Agents may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 132 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 2 contracts

Samples: Loan Agreement (Enstar Income Growth Program Five-a Lp), Loan Agreement (Enstar Income Growth Program Five-B Lp)

Assignments, Participations, etc. (a) Any Agent may, and with the written consent of the Agents, which consents shall not be unreasonably withheld, any other Bank, Bank may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent all or a portion of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other its rights and obligations under this Agreement (including all or a portion of such Bank hereunder, in a minimum amount of $5,000,000its Revolving Commitment and the Loans at the time owing to it); provided, however, provided that (i) except in the case of an assignment of the entire remaining amount of the assigning Bank’s Revolving Commitment and the Loans at the time owing to it or in the case of an assignment to a Bank or an Affiliate of a Bank or an Approved Fund with respect to a Bank, the amount of the Revolving Commitment (which for this purpose includes Loans outstanding thereunder) subject to each such assignment (determined as of the date the Assignment and Assumption Agreement, as hereinafter defined, with respect to such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000, unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Company otherwise consents (each such consent not to be unreasonably withheld or delayed, and in any event, the Agents may continue Company shall be deemed to deal solely and directly with have consented to any such Bank in connection with the interest so assigned to an Assignee until (A) assignment unless it shall object thereto by written notice to the Administrative Agent within ten Business Days after it receives a written request for consent thereto), (ii) each partial assignment shall be made as an assignment of such assignment, together with payment instructions, addresses a proportionate part of all the assigning Bank’s rights and related information obligations under this Agreement with respect to the Assignee, Loans and/or the Revolving Commitment assigned and (iii) the parties to each assignment shall have been given execute and deliver to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance agreement, substantially in the form of Exhibit E C hereto ("an “Assignment and Acceptance") Assumption Agreement”), together with any Note or Notes subject a processing and recordation fee of $3,500, and the Eligible Assignee, if it shall not be a Bank, shall deliver to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in an Administrative Questionnaire. Subject to acceptance and recording thereof by the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect Administrative Agent pursuant to any Specified Swap Contractsubsection 2.02(a), such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) From from and after the effective date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed specified in each Assignment and Acceptance and payment of Assumption Agreement, the above-referenced processing fee, (i) the Eligible Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and AcceptanceAssumption Agreement, shall have the rights and obligations of a Bank under the Loan Documentsthis Agreement, and (ii) the assignor assigning Bank thereunder shall, to the extent that rights and obligations hereunder and under of the other Loan Documents have been interest assigned by it pursuant to such Assignment and AcceptanceAssumption Agreement, relinquish its rights and be released from its obligations under this Agreement (and, in the Loan Documents. (c) Within five Business Days after its receipt case of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Assumption Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments covering all of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's ’s rights and obligations under this Agreement and Agreement, such Bank shall cease to be a party hereto but shall continue to be entitled to the other Loan Documentsbenefits of Sections 3.01, 3.03, 10.04, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement10. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 2 contracts

Samples: Credit Agreement (General Mills Inc), Credit Agreement (General Mills Inc)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the AgentsAgent and Borrower, which consents consent shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Agent or Borrower shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of $5,000,0005,000,000 or, if less, the entire Commitment of such Lender; provided, however, that (i) the Company Borrower and the Agents Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until until: (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank Lender and the Assignee; ; (Bii) such Bank Lender and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E and substance reasonably satisfactory to Agent, such Lender and its Assignee (an "Assignment and Acceptance") together with any Note or Notes subject to such assignment and ); and (Ciii) the assignor Bank Lender or the Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,000. (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender that it the Agent has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) to an executed Assignment and Acceptance and payment of the above-referenced processing fee, : (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under this Agreement and the other Loan Documents, and ; and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by Immediately upon the Administrative Agent that it has received an executed Assignment and Acceptance and payment making of the processing fee, the Company shall execute and deliver fee payment to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion Agent in respect of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tantoLender to the same extent. (d) Any Bank Lender may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrower (a "Participant") participating interests in any Loans, the Commitment of that Bank Lender and the other interests of that Bank Lender (the "originating BankOriginating Lender") hereunder and under the other Loan Documents; provided, however, that that: (i) the originating BankOriginating Lender's obligations under this Agreement shall remain unchanged, ; (ii) the originating Bank Originating Lender shall remain solely responsible for the performance of such obligations, ; (iii) the Company Borrower and the Agents Agent shall continue to deal solely and directly with the originating Bank Originating Lender in connection with the originating BankOriginating Lender's rights and obligations under this Agreement and the other Loan Documents, and ; (iv) no Bank Lender shall transfer or grant any participating interest under which the Participant has shall have rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Lenders as described in the first proviso to Section 9.1; and 01(v) the participation shall be in a minimum amount of $5,000,000 or, if less, the entire commitment of such Originating Lender. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company Borrower hereunder shall be determined as if such Bank Lender had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision contained in this AgreementAgreement or any other Loan Document to the contrary, any Bank Lender may at any time create a security interest in, or pledge, assign all or any portion of its rights under and interest in this Agreement and the Note Loans held by it in favor of to any Federal Reserve Bank in accordance with Lender or the United States Treasury as collateral security pursuant to Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, Federal Reserve Board and any Operating Circular issued by such Federal Reserve Bank may enforce Lender, provided that any payment in respect of such pledge assigned Loans made by the Borrower to or security interest for the account of the assigning or pledging Lender in any manner permitted under applicable lawaccordance with the terms of this Agreement shall satisfy the Borrower's obligations hereunder in respect to such assigned Loans to the extent of such payment. No such assignment shall release the assigning Lender from its obligations hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Esquire Communications LTD), Credit Agreement (Esquire Communications LTD)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsCompany at all times other than during the existence of an Event of Default and the Agent and the Issuing Bank, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company, the Agent or the Issuing Bank shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part -------- of all, of the Loans, the Commitments Commitments, the L/C Obligations and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,00010,000,000; provided, however, that (i) the Company and the Agents Agent may continue to deal solely -------- ------- and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment --------- ---------- and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a -------------- processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments -76- of the assigning Bank pro tanto.. --- ----- (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating ----------- interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this -------- ------- Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company Company, the Issuing Bank and the Agents Agent shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Banks as described in the first proviso to Section 11. 01. In the case of any such ------- participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14(S)203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 2 contracts

Samples: Credit Agreement (West Marine Inc), Credit Agreement (West Marine Inc)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsCompany at all times other than during the existence of an Event of Default and the Agent, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company or the Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) the Company and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and 3,500 (ii) if the assignor including, without limitation, in connection with any assignment by a Bank or any of its Affiliates is to a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the CompanyBank). (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, (and provided that it consents to such assignment in accordance with subsection 10.8(a)) the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents Agent shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Banks as described in the first proviso to Section 10. 011. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 3.1, or any of the other Loan Documents3.3 and 10.5 as though it were also a Bank hereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14ss.203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 2 contracts

Samples: Credit Agreement (Marcus Corp), Credit Agreement (Marcus Corp)

Assignments, Participations, etc. (ai) Any Agent may, and with the written consent of the Agents, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent all such assignments shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $1,000,000 if made to another Lender in the Lender Group or $5,000,000 if made to any other Assignee; (ii) no Lender shall have Commitments, immediately following an assignment, of an aggregate amount of less than $1,000,000 unless such Lender shall have assigned all of its Loans, Commitments, rights and obligations hereunder, and no Assignee, other than a Lender in the Lender Group, shall have Commitments immediately following an assignment of an aggregate amount of less than $5,000,000, unless such Assignee shall have assigned all of its Loans, Commitments, rights and obligation hereunder; (iii) the prior written consent of the Administrative Agent shall be required for assignments other than assignments between members of the Lender Group or assignments by a Lender to its wholly-owned Affiliate (or its parent institution), which consent shall not be unreasonably withheld or delayed; (iv) the prior written consent of the relevant Issuing Lender shall be required for all assignments of risk participations in Letters of Credit other than assignments between members of the Lender Group or assignments by a Lender to its wholly-owned Affiliate (or its parent institution), which consent shall not be unreasonably withheld or delayed; providedand (v) so long as there is no Event of Default, howeverthe prior written consent of the Company, that which consent shall not be unreasonably withheld or delayed, shall be required for any assignment except the consent of the Company shall not be required for (iA) assignments by a Lender to its wholly-owned Affiliate (or its parent institution) or (B) assignments between members of the Lender Group. (b) Notwithstanding any assignment, the Company and the Agents Administrative Agent may continue to deal solely and directly with such Bank an assigning Lender in connection with the interest interests so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank Lender and the Assignee; (Bii) such Bank Lender and its Assignee shall have delivered to the Company and the Administrative Agent an a Notice of Assignment and Acceptance in the form of Exhibit E (G hereto(an --------- "Assignment and Acceptance"); (iii) together except in connection with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has initial syndication of the Commitments by the Underwriters, the processing fee of $3,500 shall have been paid to each the Administrative Agent for an assignment to an Assignee outside the Lender Group or a processing fee in of $2,500 shall have been paid to the amount Administrative Agent for an assignment between members of its $[______________]the Lender Group; and (iiiv) if all consents from the assignor Bank Administrative Agent, the Company or any of its Affiliates is a Swap Provider with respect Issuing Lender required pursuant to this Agreement or any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the CompanyLoan Document have been obtained. (bc) From and after the date that the Administrative Agent notifies the assignor Bank Lender that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing feehas become effective, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, Documents and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. The Administrative Agent shall record the information contained in the Assignment and Acceptance in the Register. (cd) Within five Business Days after its receipt of notice by Immediately upon the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptancebecoming effective, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank Lender pro tanto. (de) Notwithstanding any of the foregoing, any Lender may at any time assign all or any portion of its rights under this Agreement and any Note to a Federal Reserve Lender, without restriction hereunder; provided, however, that -------- ------- no such assignment shall release any Lender from its obligations hereunder. (f) Any Bank Lender may at any time sell to one or more commercial banks Lenders or other Persons not Affiliates of the Company institutional investors (a "Participant") participating interests in any Loans, Commitments together with the Commitment related Loans of that Bank and the Lender together with any other interests interest of that Bank (the "originating Bank") hereunder and under the other Loan DocumentsLender hereunder; provided, however, that (i) the originating Bank-------- ------- Lender's obligations under this Agreement shall remain unchanged, (ii) the originating Bank Lender shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents Administrative Agent shall continue to deal solely and directly with the originating Bank Lender in connection with the originating BankLender's rights and obligations under this Agreement and the other Loan DocumentsAgreement, and (iv) no Bank Lender shall transfer or grant any participating interest under which the Participant has shall have rights to approve any amendment to, or any consent or waiver with respect to this Agreement except to the extent such amendment, consent or waiver would as to such Participant: 01(a) postpone or delay any date fixed for any payment of principal, or interest; (b) reduce the principal of, or the Applicable Amount specified herein for any Loan; (c) reduce the commission on any Letter of Credit, or of any fees payable to the Administrative Agent for the account of the Lenders hereunder; (d) release the Subsidiary Guaranty, any Subsidiary Guarantor, release all or substantially all of the Collateral except as otherwise expressly provided in the Collateral Documents. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank Lender had not sold such participation; , except that, that if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Agreement. (eg) Notwithstanding Each Lender agrees to take normal and reasonable precautions and exercise due care to maintain the confidentiality of all non-public information provided to it by the Company or any Subsidiary of the Company or by the Administrative Agent in connection with this Agreement or any Collateral Document and neither it nor any of its Affiliates shall use any such information for any purpose or in any manner other provision in than pursuant to the terms contemplated by this Agreement, any Bank may at any time create a security interest in, except to the extent such information (i) was or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.becomes generally available to

Appears in 2 contracts

Samples: Credit Agreement (United Artists Theatre Co), Credit Agreement (United Artists Theatre Co)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the AgentsBorrower (at all times other than during the existence of an Event of Default) and the Administrative Agent, which consents shall not be unreasonably withheld, any other and the Fronting Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Borrower or the Administrative Agent shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender) (each an "Assignee") all, or any ratable part of all, of the LoansLC Obligations, the Commitments and the other rights and obligations of such Bank Lender hereunder, provided, however, that (w) the aggregate principal amount of the Commitment assigned by any Lender to someone other than another Lender shall be in a minimum amount of $5,000,000; provided5,000,000 (or if less, howeverthe entire Commitment then held by such Lender), that (ix) after giving effect to any such assignment by a Lender, the aggregate amount of the Commitments and/or LC Obligations held by such assigning Lender is at least $5,000,000 (unless such Lender has assigned the entire Commitment and LC Obligations then held by it), (y) after giving effect to any such assignment by a Lender, the Assignee Percentage under the Tranche A Commitment and Tranche B Commitment is the same and the Percentage of the assignor Lender under the Tranche A Commitment and the Tranche B Commitment is the same, and (z) the Company Assignee provides the Administrative Agent and the Agents Borrower with the form specified in Section 9.10. The Borrower and the Administrative Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank Lender and the Assignee; (Bii) such Bank Lender and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E C ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank Lender or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Credit Documents, and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Credit Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Credit Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's ’s making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank Lender pro tanto. (d) Any Bank Lender may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrower (a "Participant") participating interests in any LoansLC Obligations, the Commitment of that Bank Lender and the other interests of that Bank Lender (the "originating Bank"Lender”) hereunder and under the other Loan Credit Documents; provided, however, that (i) the originating Bank's Lender’s obligations under this Agreement shall remain unchanged, (ii) the originating Bank Lender shall remain solely responsible for the performance of such obligations, (iii) the Company Borrower and the Agents Administrative Agent shall continue to deal solely and directly with the originating Bank Lender in connection with the originating Bank's Lender’s rights and obligations under this Agreement and the other Loan Credit Documents, and (iv) no Bank Lender shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Credit Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Lenders as described in the first proviso to Section 10. 011. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 3.1, or any of 3.3 and 10.5 to the other Loan Documentsextent the Lender selling such participation would be so entitled as though it were also a Lender hereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Agreement. All participations shall be pro rata among such Lender’s Tranche A Commitment and Tranche B Commitment. (e) Notwithstanding any other provision in this Agreement, any Bank Lender may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note any LC Obligation held by it in favor of any Federal Reserve Bank Lender in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14§203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 2 contracts

Samples: Letter of Credit Reimbursement Agreement (Max Re Capital LTD), Letter of Credit Reimbursement Agreement (Max Re Capital LTD)

Assignments, Participations, etc. (ai) Any Agent Each Lender may, and with the prior written consent approval of the AgentsBorrower and the Administrative Agent, assign to one or more assignees, which consents shall approvals will not be unreasonably withheld, and (ii) each Lender may, without the consent of the Borrower or the Administrative Agent, assign to any of its Lender Affiliates or to any other BankLender, may at any time assign and delegate other than a Lender replaced pursuant to one or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) Section 3.14(b), (each such Person, an "Assignee") all), all or any ratable part fraction of all, of the its Committed Loans, the Commitments if any, owed to it and the other rights and obligations of such Bank hereunder, its Commitment in a minimum amount of $5,000,000; provided, however, that the Borrower shall not, as a result of an assignment by any Lender to any of its wholly-owned Subsidiaries incur any increased liability for Taxes and Other Taxes pursuant to Section 3.05. (ib) the Company No assignment shall become effective, and the Agents may Borrower and the Administrative Agent shall be entitled to continue to deal solely and directly with such Bank each Lender in connection with the interest interests so assigned by such Lender to an Assignee Assignee, until (Ai) written notice of such assignment, together with an agreement to be bound, payment instructions, addresses and related information with respect to the such Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank Lender and the such Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance , in substantially the form of Exhibit E 10.08 (a "Notice of Assignment"), and such Lender and such Assignee shall have executed in connection therewith an Assignment and Acceptance") together with any Note or Notes subject Assumption Agreement in substantially the form of Attachment A to such assignment and Notice of Assignment, (Cii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; 3,500 shall have been paid to the Administrative Agent by the assignor Lender or the Assignee, and (iii) either (A) five Business Days shall have elapsed after receipt by the Administrative Agent of the items referred to in clauses (i) and (ii) or (B) if earlier, the Administrative Agent shall have notified the assignor Bank or any Lender and the Assignee of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent receipt of the Companyitems mentioned in clauses (i) and (ii) and that it has acknowledged the assignment by countersigning the Notice of Assignment. (bc) From and after the effective date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing feeany assignment, (i) the Assignee thereunder shall be deemed automatically to have become a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and AcceptanceAssignee by the assignor Lender, shall have the rights and obligations of a Bank Lender hereunder and under the each other Loan DocumentsDocument, and (ii) the assignor Bank shallLender, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptancethe Assignee, relinquish its rights and shall be released from its obligations hereunder and under the each other Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tantoDocument. (d) Any Bank Lender may at any time sell to one or more commercial banks or other Persons not Affiliates (each of the Company (such Persons being herein called a "Participant") participating interests in any of the Loans, the its Commitment or any other interest of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documentssuch Lender hereunder; provided, however, that that (i) the originating Bank's no participation contemplated in this Section 10.08(d) shall relieve such Lender from its Commitment or its other obligations hereunder or under this Agreement shall remain unchanged, any other Loan Document; (ii) the originating Bank such Lender shall remain solely responsible for the performance of its Commitment and such other obligations, ; (iii) the Company Borrower and the Agents Administrative Agent shall continue to deal solely and directly with the originating Bank such Lender in connection with the originating Banksuch Lender's rights and obligations under this Agreement and the other Loan Documents, and Agreement; and (iv) no Bank Participant, unless such Participant is itself a Lender, shall transfer be entitled to require such Lender to take or grant refrain from taking any participating interest action hereunder or under which the any other Loan Document, except that such Lender may agree with any Participant has rights that such Lender will not, without such Participant's consent, approve any amendment to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any consent or waiver with respect to, this Agreement or any other Loan Document, to the extent such amendment, consent or waiver would require unanimous consent of the other Loan Documents, and all amounts payable by Lenders as described in the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed proviso to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this AgreementSection 10. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 2 contracts

Samples: Receivables Bridge Credit Agreement (Ibp Inc), Credit Agreement (Ibp Inc)

Assignments, Participations, etc. (a1) Any Agent may, and with With the prior written consent of the AgentsAdministrative Agent and, which but only if there has not occurred and is continuing an Event of Default or Potential Default, MAC, in each case such consents shall not to be unreasonably withheldwithheld or delayed, any other Bank, Lender may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either MAC or the Administrative Agent shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender or to another Lender or its Affiliate) (each an "Assignee") all, all or any ratable part of all, such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans, Loans at the Commitments time owing to it) and the other rights and obligations of Obligations held by such Bank Lender hereunder, in a minimum amount of $5,000,0005 million (or (A) if such Assignee is another Lender or an Affiliate of a Lender, $1 million, or such lesser amount as agreed by the Administrative Agent; and (B) if such Lender’s Commitment is less than $5 million, one hundred percent (100%) thereof); provided, however, that (i) MAC, the Company Borrower, the Issuing Lender and the Agents Administrative Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower, the Issuing Lender and the Administrative Agent by such Bank Lender and the Assignee; (Bii) such Bank Lender and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment Agreement and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (bA) From and after the date that the Administrative Agent notifies the assignor Bank Lender and the Borrower that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance Agreement and payment of the above-referenced processing fee, : (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned to it pursuant to such Assignment and AcceptanceAcceptance Agreement, shall have the rights and obligations of a Bank Lender under the Loan Documents, and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and AcceptanceAcceptance Agreement, relinquish its rights and be released from its obligations under the Loan Documents. Documents (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company but shall execute and deliver be entitled to indemnification as otherwise provided in this Agreement with respect to any events occurring prior to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans assignment) and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, iii) this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising resulting therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d2) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance Agreement and payment of the processing fee (which notice shall also be sent by the Administrative Agent to each Lender), the Borrower shall, if requested by the Assignee, execute and deliver to the Administrative Agent, a new Note evidencing such Assignee’s Applicable Percentage of the Commitments. (3) Any Bank Lender may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrower (a "Participant") participating interests in all or any Loans, the Commitment portion of that Bank its rights and obligations under this Agreement and the other interests Loan Documents (including all or a portion of that Bank its Commitments and the Loans owing to it) (the "originating Bank") hereunder and under the other Loan Documents“Originating Lender”); provided, however, that (i) the originating Bank's Lender’s obligations under this Agreement shall remain unchanged, (ii) the originating Bank Lender shall remain solely responsible for the performance of such obligations, and (iii) the Company Borrower, the Issuing Lender and the Agents Administrative Agent shall continue to deal solely and directly with the originating Bank Lender in connection with the originating Bank's Lender’s rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 2.5, or any 2.6 and 2.7 (and subject to the burdens of the other Loan DocumentsSections 2.8 and 11.8 above) as though it were also a Lender thereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Agreement, and Section 11.10 of this Agreement shall apply to such Participant as if it were a Lender party hereto. (e4) Notwithstanding any other provision contained in this AgreementAgreement or any other Loan Document to the contrary, any Bank Lender may at any time create a security interest in, or pledge, assign all or any portion of its rights and obligations under and interest in this Agreement and the Note held by it in favor other Loan Documents (including all or a portion of its Commitments and the Loans owing to it) to any Federal Reserve Bank in accordance with Lender or the United States Treasury as collateral security pursuant to Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, Board of Governors of the Federal Reserve System and any Operating Circular issued by such Federal Reserve Bank may enforce Lender, provided that any payment in respect of such pledge assigned interests made by the Borrower to or security interest for the account of the assigning and/or pledging Lender in any manner permitted under applicable lawaccordance with the terms of this Agreement shall satisfy the Borrower’s obligations hereunder in respect to such assigned interests to the extent of such payment. No such assignment shall release the assigning Lender from its obligations hereunder.

Appears in 2 contracts

Samples: Revolving Loan Facility Credit Agreement (Macerich Co), Revolving Loan Facility Credit Agreement (Macerich Co)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the AgentsBorrower, the Agent, the Swingline Lender and Bank of America as Issuing Lender, which consents shall not be unreasonably withheldwithheld or delayed, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent (x) the Borrower shall be required either in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an a Lender or a Lender Affiliate of such BankLender or at any time that an Event of Default shall exist and (y) the Swingline Lender in its capacity as such and Bank of America in its capacity as an Issuing Lender shall be required in connection with an assignment of outstanding Term Loans) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000Lender hereunder (although such assignments do not have to be pro rata among the respective Tranches); provided, however, that (i) any such assignment to an Eligible Assignee which is not a Lender or a Lender Affiliate shall be in a minimum amount equal to the Company lesser of $5,000,000 or the full amount of the assignor Lender's outstanding Loans and Commitments; and provided, still further, that the Borrower, the Issuing Lenders, the Swingline Lender and the Agents Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank Lender and the Assignee; (Bii) such Bank Lender and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E L ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]); and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable assignment is recorded by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon Agent in the occurrence of an Event of Default, each Participant shall be deemed Register pursuant to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.Section

Appears in 2 contracts

Samples: Credit Agreement (Globe Manufacturing Corp), Credit Agreement (Globe Manufacturing Corp)

Assignments, Participations, etc. (a) Any Agent may, and with the written consent of the Agents, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate Upon notice to one or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) the Company and the Agents may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Borrower, any Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form may, as long as no Event of Exhibit E ("Assignment and Acceptance") together with any Note Default has occurred or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contractoccurring, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrower (a "Participant") participating interests in any LoansAdvances, the Revolving Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, howeverPROVIDED, HOWEVER, that the Borrower shall have no additional expense as a result of such participation, and PROVIDED, FURTHER, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company Borrower and the Agents Administrative Agent shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has shall have rights to approve any amendment to 01, or any consent or waiver with respect to, this Agreement or any other Loan Document. In the case of any such participation, the Participant shall be entitled to the benefit of Sections 3.01, 3.03 and 10.05 as though it were also a Bank hereunder, and not have any other rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company Borrower hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (eb) Each Bank agrees to take normal and reasonable precautions and exercise due care to maintain the confidentiality of all information identified as "confidential" by the Borrower and provided to it by the Borrower or any Subsidiaries of the Borrower, or by the Administrative Agent on the Borrower's or such Subsidiary's behalf, in connection with this Agreement or any other Loan Document, and neither such Bank nor any of its Affiliates shall disclose any such information for any purpose or in any manner other than pursuant to the terms contemplated by this Agreement, except to the extent such information was or becomes generally available to the public other than as a result of a disclosure by such Bank; PROVIDED, HOWEVER, that any Bank may disclose such information (A) at the request or pursuant to any requirement of any Governmental Authority to which such Bank is subject or in connection with an examination of such Bank by any such authority; (B) pursuant to subpoena or other court process; (C) when required to do so in accordance with the provisions of any applicable Requirement of Law; (D) to the extent reasonably required in connection with any litigation or proceeding to which the Administrative Agent, any Bank or their respective Affiliates may be party; (E) to the extent reasonably required in connection with the exercise of any remedy hereunder or under any other Loan Document; and (F) to such Bank's independent auditors and other professional advisors. Notwithstanding the foregoing, the Borrower authorizes each Bank to disclose to any assignee and proposed assignee, and to any Participant and any prospective Participant, such financial and other information in such Bank's possession concerning the Borrower or its Subsidiaries which has been delivered to the Administrative Agent or the Banks pursuant to this Agreement or which has been delivered to the Administrative Agent or the Banks by the Borrower in connection with the Banks' credit evaluation of the Borrower prior to entering into this Agreement; PROVIDED that, unless otherwise agreed by the Borrower, such recipient agrees in writing to such Bank to keep such information confidential to the same extent required of the Banks hereunder. (c) Notwithstanding any other provision contained in this AgreementAgreement or any other Loan Document to the contrary, any Bank may at any time create a security interest in, or pledge, assign all or any portion of its rights under and interest in this Agreement and the Note held Advances made by it in favor of to any Federal Reserve Bank in accordance with or the United States Treasury as collateral security pursuant to Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, Federal Reserve Board and any Operating Circular issued by such Federal Reserve Bank, provided that any payment in respect of such assigned Advances made by the Borrower to or for the account of the assigning or pledging Bank may enforce in accordance with the terms of this Agreement shall satisfy the Borrower's obligations hereunder in respect of such pledge or security interest in any manner permitted under applicable lawassigned Advances to the extent of such payment. No such assignment shall release the assigning Bank from its obligations hereunder.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Schuler Homes Inc), Credit Agreement (Schuler Homes Inc)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsBorrower (at all times other than during the existence of an Event of Default), the Agent and the applicable Issuing Bank(s), which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Borrower, the Agent or an Issuing Bank shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Revolving Loan Commitments, the L/C Obligations and the other rights and obligations of such Bank hereunder, hereunder in a an aggregate minimum amount of $5,000,00010,000,000, pro-rated in accordance with the respective amounts of the Facility A Commitment, the Facility B Term Loans outstanding and the Facility C Commitment of such Bank; provided that such Bank shall retain an aggregate amount of not less than $10,000,000 in respect thereof, unless such Bank assigns and delegates all of its rights and obligations hereunder to one or more Eligible Assignees on the time and subject to the conditions set forth herein; and provided, further, however, that (i) the Company Borrower and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") ), together with any Note or Notes subject to such assignment assignment; and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 2 contracts

Samples: Credit Agreement (Ferrellgas Partners Finance Corp), Credit Agreement (Ferrellgas Finance Corp)

Assignments, Participations, etc. (a) Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby and, to the extent expressly contemplated hereby, the Affiliates of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. (b) Any Lender may assign to one or more assignees (each, an "Assignee") all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it); provided that (i) except in the case of an assignment to a Lender or a Lender Affiliate, each of the Borrower and the Administrative Agent may, and with the must give their prior written consent of the Agents, to such assignment (which consents consent shall not be unreasonably withheld), any other Bank, may at any time assign and delegate (ii) except in the case of an assignment to one a Lender or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any a Lender Affiliate or an assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loansentire remaining amount of the assigning Lender's Commitment, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that the Commitment of the assigning Lender subject to each such assignment (i) determined as of the Company date the Assignment and the Agents may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information Acceptance with respect to the Assignee, shall have been given such assignment is delivered to the Company Administrative Agent) shall not be less than $5,000,000 unless each of the Borrower and the Administrative Agent by such Bank otherwise consent, (iii) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender's rights and obligations under this Agreement, except that this clause (iii) shall not apply to rights in respect of outstanding Bid Loans, (iv) the Assignee and the Assignee; (B) such Bank Assignor in respect of each assignment shall execute and its Assignee shall have delivered deliver to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") , together with any Note or Notes subject to such assignment a processing and recordation fee of $3,500, and (Cv) the assignor Bank or Assignee has paid Assignee, if it shall not be a Lender, shall deliver to each the Administrative Agent a processing fee in the amount of its $[______________]an Administrative Questionnaire; and (ii) if the assignor Bank or provided further that any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. Borrower otherwise required under this paragraph shall not be required if an Event of Default under clause (bf) From or (g) of Section 8.01 has occurred and is continuing. Subject to acceptance and recording thereof pursuant to paragraph (d) of this Section, from and after the effective date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed specified in each Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documentsthis Agreement, and (ii) the assignor Bank assigning Lender thereunder shall, to the extent that rights and obligations hereunder and under of the other Loan Documents have been interest assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the Loan Documentscase of an Assignment and Acceptance covering all of the assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 3.05, 3.08, 3.09, 3.10, 3.11 and 10.05)(but only to the extent such Lender notifies the Borrower of any claim under such Section within 90 days after it obtains knowledge thereof). Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (e) of this Section. (c) Within five Business Days after The Administrative Agent, acting for this purpose as an agent of the Borrower, shall maintain at one of its receipt offices in the United States a copy of notice by the Administrative Agent that it has received an executed each Assignment and Acceptance delivered to it and payment a register for the recordation of the processing feenames and addresses of the Lenders, and the Company shall execute Commitment of, and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained owing to, each Lender pursuant to the terms hereof from time to time (the "Register"). The entries in the Register shall be conclusive, and the Borrower, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the assignor Bank (such Notes Borrower, and any Lender, at any reasonable time and from time to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately time upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tantoreasonable prior notice. (d) Upon its receipt of a duly completed Assignment and Acceptance executed by an assigning Lender and an Assignee, the Assignee's completed Administrative Questionnaire (unless the Assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) of this Section and any written consent to such assignment required by paragraph (b) of this Section, the Administrative Agent shall accept such Assignment and Acceptance and record the information contained therein in the Register. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph. (e) Any Bank may at any time Lender may, without the consent of the Borrower or the Administrative Agent, sell participations to one or more commercial banks or other Persons not Affiliates of the Company entities (each a "Participant") participating interests in any Loans, the all or a portion of such Lender's rights and obligations under this Agreement (including all or a portion of its Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan DocumentsLoans owing to it); provided, however, provided that (i) the originating Banksuch Lender's obligations under this Agreement shall remain unchanged, (ii) the originating Bank such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, obligations and (iii) the Company Borrower, the Administrative Agent and the Agents other Lenders shall continue to deal solely and directly with the originating Bank such Lender in connection with the originating Banksuch Lender's rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and the other Loan Documentsto approve any amendment, and (iv) no Bank shall transfer modification or grant any participating interest under which the Participant has rights to 01. In the case waiver of any provision of this Agreement; provided that such participationagreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the proviso to Section 10.02 that affects such Participant. Subject to paragraph (f) of this Section, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, Borrower agrees that each Participant shall be deemed entitled to have the right benefits of set-off in respect of its participating interest in amounts owing under this Agreement Sections 3.05 (other than 3.05(f)), 3.06, 3.08, 3.09 and 3.10 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the amount extent permitted by law, each Participant also shall be entitled to the benefits of its participating interest Section 10.06 as though it were owing directly a Lender, provided such Participant agrees to be subject to Section 3.06 as though it as were a Bank under this AgreementLender. (ef) Notwithstanding A Participant shall not be entitled to receive any other provision in this Agreementgreater payment under Section 3.05, any Bank 3.08, 3.09 or 3.10 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower's prior written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 3.05 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 3.05(f) as though it were a Lender. (g) Any Lender may at any time create pledge or assign a security interest in, or pledge, in all or any portion of its rights under and interest in this Agreement and the Note held by it in favor to secure obligations of any such Lender to a Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14Bank, and such Federal Reserve Bank may enforce this Section shall not apply to any such pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest in shall release a Lender from any manner permitted under applicable lawof its obligations hereunder or substitute any such pledgee or Assignee for such Lender as a party hereto.

Appears in 2 contracts

Samples: 364 Day Credit Agreement (Tyson Foods Inc), Credit Agreement (Tyson Foods Inc)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the AgentsAgent and the Borrower, which consents consent shall not be unreasonably withheldwithheld (except Borrower’s consent shall not be required if a Default or an Event of Default exists and is continuing), any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Agent shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitments, and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of $5,000,00010,000,000; provided, however, that (i) the Company and Borrower and, the Agents Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank Lender and the Assignee; (B) such Bank Lender and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E F ("Assignment and Acceptance") together with any Note or Notes subject to such assignment assignment; and (C) the assignor Bank Lender or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender and the Borrower that it has received (and the Borrower and the Agent have provided its their consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing feefee (and provided that it consents to such assignment in accordance with subsection 10.8(a)), the Company Borrower shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's ’s assigned Loans and Commitment and, if the assignor Bank Lender has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans Commitment retained by the assignor Bank Lender (such Notes to be in exchange for, but not in payment of, the Notes held by such BankLender). Immediately upon each Assignee's ’s making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank assignor Lender pro tanto. (d) Any Bank Lender may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrower (a "Participant") participating interests in any Loans, the Commitment of that Bank Lender and the other interests of that Bank Lender (the "originating Bank"Lender”) hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's Lender’s obligations under this Agreement shall remain unchanged, (ii) the originating Bank Lender shall remain solely responsible for the performance of such obligations, (iii) the Company Borrower, and the Agents Agent shall continue to deal solely and directly with the originating Bank Lender in connection with the originating Bank's Lender’s rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank Lender shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any consent or waiver with respect to, this Agreement or any other Loan Document. Any Lender that sells a participation to any Person that is a “foreign corporation, partnership or trust” within the meaning of the other Loan Documents, and all amounts payable Code shall include in its participation agreement with such Person a covenant by such Person that such Person will comply with the Company hereunder shall be determined provisions of Section 9.10 as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due Person were a Lender and unpaid, or shall have been declared or shall have become due provide that the Agent and payable upon the occurrence of an Event of Default, each Participant Borrower shall be deemed to have the right third party beneficiaries of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreementsuch covenant. (e) Notwithstanding any other provision in this Agreement, any Bank Lender may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14§203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law. (f) Any Lender (a “Granting Lender”) may, with notice to the Agent, grant to a special purpose funding vehicle (an “SPC”) the option to fund all or any part of any Loan that such Granting Lender would otherwise be obligated to fund pursuant to this Agreement. The funding of a Loan by an SPC hereunder shall utilize the Revolving Credit Commitment of the Granting Lender to the same extent, and as if, such Loan were funded by such Granting Lender. Each party hereto hereby agrees that no SPC shall be liable for any indemnity or payment under this Agreement for which a Lender would otherwise be liable for so long as, and to the extent, the Granting Lender provides such indemnity or makes such payment. Notwithstanding anything to the contrary contained in the foregoing or anywhere else in this Agreement, (i) nothing herein shall constitute a commitment by any SPC to fund any Loan, (ii) if an SPC elects not to exercise such option or otherwise fails to fund all or any part of such Loan, the Granting Lender shall be obligated to fund such Loan pursuant to the terms hereof, and (iii) the Borrower and Agent shall continue to deal exclusively with the Granting Lender and any funding by an SPC hereunder shall not constitute an assignment, assumption or participation of any rights or obligations of the Granting Lender. Any SPC may disclose on a confidential basis any non-public information relating to its funding of Loans to any rating agency, commercial paper dealer or provider of any surety or guarantee to such SPC, provided, as a condition precedent to such disclosure, (A) such agency, dealer or provider has delivered to such Granting Lender for the benefit of Borrower a written confidentiality agreement substantially similar to Section 10.9, and (B) simultaneous with or prior to such disclosure, such Granting Lender has given written notice to Borrower of the agency, dealer or provider to which such disclosure is being made and the contents of such disclosure. This Section may not be amended without the prior written consent of each Granting Lender, all or any part of whose Loan is being funded by an SPC at the time of such amendment.

Appears in 2 contracts

Samples: Credit Agreement (Schwab Charles Corp), Credit Agreement (Schwab Charles Corp)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the AgentsBorrowers at all times other than during the existence of an Event of Default, the Agent, and the L/C Issuer with an outstanding Letter of Credit, which consents shall not be unreasonably withheldwithheld or delayed, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (each an “Assignee”) all, or any part of all, of the Loans, the Commitments, the L/C Obligations and the other rights and obligations of such Lender hereunder, in a minimum amount of $5,000,000 or, if less, the total amount of such Lender’s outstanding Loans and/or Commitments (provided that no written consent of either Agent the Borrower, the Agent, or the L/C Issuer shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000Lender); provided, however, that (i) the Company Borrowers and the Agents Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrowers and the Administrative Agent by such Bank Lender and the Assignee; (Bii) such Bank Lender and its Assignee shall have delivered to the Company Borrowers and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E “D” ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank Lender or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract3,000 provided, such Bank shall not assign all of its interest that in the 76 128 Loans and case of contemporaneous assignments by a Lender to more than one fund managed by the Commitments to an Assignee unless same investment advisor, only a single fee of $3,000 shall be payable for all such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Companycontemporaneous assignments. (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender that it has received (and and, if required, provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder (including any obligations under Section 11.10) have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five (5) Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank Lender pro tanto. (d) The Agent shall maintain a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses of the Lenders and the Commitments of, and principal amount of the Loans owing to, each Lender from time to time. The entries in such register shall be conclusive, in the absence of clear and obvious error, and the Borrowers, the Agent and the Lenders shall treat each person whose name is recorded in such register as the owner of the Commitments and the Loans recorded therein for all purposes of this Agreement. The register shall be available for inspection by the Borrowers, any Lender and their representatives, at any reasonable time and from time to time upon reasonable prior notice. (e) Any Bank Lender may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrowers (a "Participant") participating interests in any Loans, the Commitment of that Bank Lender and the other interests of that Bank Lender (the "originating Bank"Lender”) hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's Lender’s obligations under this Agreement shall remain unchanged, (ii) the originating Bank Lender shall remain solely responsible for the performance of such obligations, (iii) the Company Borrowers, the L/C Issuer and the Agents Agent shall continue to deal solely and directly with the originating Bank Lender in connection with the originating Bank's Lender’s rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank Lender shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to 01, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Lenders as described in the clause (a) (but only in respect of any increase of any Commitment of any Originating Lender), (b) or (c) of the first proviso to Section 12.01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any be entitled to the benefit of the other Loan DocumentsSections 4.01 and 11.05 as though it were also a Lender hereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Agreement. (ef) Notwithstanding any other provision in this Agreement, (i) any Bank Lender may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note Notes held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14C.F.R. Section 203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable lawlaw and (ii) any Lender that is a fund that invests in bank loans may, without the consent of the Agent or the Borrower, pledge all or any portion of its rights under and interest in this Agreement to any trustee or to any other representative of holders of obligations owed or securities issued by such fund as security for such obligations or securities; provided, that any transfer to any Person upon the enforcement of such pledge or security interest may only be made subject to Section 12.08.

Appears in 2 contracts

Samples: Credit Agreement (North American Galvanizing & Coatings Inc), Credit Agreement (North American Galvanizing & Coatings Inc)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent consents of the AgentsBorrower and the Agent, which consents shall not be unreasonably withheldat the sole discretion of the Borrower and the Agent, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that (i) no written consent of either the Borrower shall be required during the existence of an Event of Default after the Agent has declared the Commitment of each Bank to make Loans to be terminated and (ii) no written consent of the Borrower or the Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Combined Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) the Company Borrower and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E J ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company2,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five (5) Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, (and provided that it consents to such assignment in accordance with Section 10.8(a)), the Company Borrower shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Combined Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrower (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating BankOriginator") hereunder and under the other Loan Documents; provided, however, that (i) the originating BankOriginator's obligations under this Agreement shall remain unchanged, (ii) the originating Bank Originator shall remain solely responsible for the performance of such obligations, (iii) the Company Borrower and the Agents Agent shall continue to deal solely and directly with the originating Bank Originator in connection with the originating BankOriginator's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to waiver would require unanimous consent of the Banks as described in the first proviso to Section 10. 011. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 3.1, or any of the other Loan Documents3.3 and 10.5 as though it were also a Bank hereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, assign all or any portion of its rights under and interest in this Agreement and the Note held by it for the purpose of creating a security interest in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 2 contracts

Samples: Credit Agreement (Gentle Dental Service Corp), Credit Agreement (Gentle Dental Service Corp)

Assignments, Participations, etc. (a) Any Agent may, and with the written consent of the Agents, which consents shall not be unreasonably withheld, any other Bank, Bank may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent all or a portion of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other its rights and obligations under this Agreement (including all or a portion of such Bank hereunder, in a minimum amount of $5,000,000its Revolving Commitment and the Loans at the time owing to it); provided, however, provided that (i) except in the case of an assignment of the entire remaining amount of the assigning Bank's Revolving Commitment and the Loans at the time owing to it or in the case of an assignment to a Bank or an affiliate of a Bank or an Approved Fund with respect to a Bank, the aggregate amount of the Revolving Commitment (which for this purpose includes Loans outstanding thereunder) subject to each such assignment (determined as of the date the Assignment and Assumption Agreement, as hereinafter defined, with respect to such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000, unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Company otherwise consent (each such consent not to be unreasonably withheld or delayed), (ii) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Bank's rights and the Agents may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information obligations under this Agreement with respect to the Assignee, Loan or the Revolving Commitment assigned and (iii) the parties to each assignment shall have been given execute and deliver to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance agreement, substantially in the form of Exhibit E C hereto (an "Assignment and AcceptanceASSIGNMENT AND ASSUMPTION AGREEMENT") ), together with any Note or Notes subject a processing and recordation fee of $3,500, and the Eligible Assignee, if it shall not be a Bank, shall deliver to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in an Administrative Questionnaire. Subject to acceptance and recording thereof by the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect Administrative Agent pursuant to any Specified Swap ContractSection 2.02(a), such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) From from and after the effective date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed specified in each Assignment and Acceptance and payment of Assumption Agreement, the above-referenced processing fee, (i) the Eligible Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and AcceptanceAssumption Agreement, shall have the rights and obligations of a Bank under the Loan Documentsthis Agreement, and (ii) the assignor assigning Bank thereunder shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.the

Appears in 2 contracts

Samples: Credit Agreement (General Mills Inc), 364 Day Credit Agreement (General Mills Inc)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the AgentsCompany at all times other than during the existence of an Event of Default and with the written consents of the Administrative Agent and, in case of an assignment of a Revolving Commitment or L/C Obligations, the Issuing Lender and the Swingline Lender, which consents shall not be unreasonably withheldwithheld or delayed, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent the Company, the Administrative Agent, the Issuing Lender or the Swingline Lender shall be required in connection with any assignment and delegation by a Bank Lender to an a Person described in clause (ii), (iii), (iv) or (v) of the definition of Eligible Assignee that is an Affiliate of such BankAssignee) (each each, an "Assignee") all, or any ratable part of allpart, of the Loans, the Commitments Revolving Commitment, the L/C Obligations and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of $5,000,0005,000,000 (or, if less, all of such Lender's remaining rights and obligations hereunder or all of such Lender's rights and obligations with respect to Revolving Commitment and Revolving Loans or Term Loans) or such lesser amount as may be approved by the Company and the Administrative Agent (provided that such minimum amount shall not apply to assignments by a Lender to Persons described in clause (ii), (iii), (iv) or (v) of the definition of Eligible Assignee and provided further that any assignment consisting solely of Term Loans may be in a minimum amount of $1,000,000); provided, however, that (iA) the Company Company, the Administrative Agent, the Issuing Lender and the Agents Swingline Lender may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, Assignee shall have been given to the Company and the Administrative Agent by such Bank Lender and the Assignee; , (Bii) such Bank Lender and its the Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E K (an "Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank Lender or the Assignee has shall have paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and 3,500 (ii) if provided that such fee shall not apply to any assignment by any Lender to any Affiliate of such Lender or, in the assignor Bank or case of any of its Affiliates assignee Lender that is a Swap Provider with respect fund, to any Specified Swap Contract, Person in clause (iv) of the definition of Eligible Assignee that has the same investment adviser as such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, assignee or that is managed by an Affiliate of such Assigneeinvestment adviser) and (B) the Company shall not, shall also assume all obligations as a result of such assignor Bank any -115- 126 assignment, delegation or Affiliate participation by any Lender, incur any increased liability for Taxes, Other Taxes or Further Taxes pursuant to Section 4.1. The Company designates the Administrative Agent as its agent for maintaining a book entry record of ownership identifying the Lenders, their respective addresses and the amount of the respective Loans and Notes which they own. The foregoing provisions are intended to comply with respect the registration requirements in Treasury Regulation Section 5f.103-1 so that the Loans and Notes are considered to be in "registered form" pursuant to such Specified Swap Contractsregulation. The Administrative Agent, with acting for this purpose as the consent agent of the Company, shall maintain at its address a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses of the Lenders and the Commitments and Loans of each Lender pursuant to the terms hereof from time to time (the "Register"). The entries in the Register shall be conclusive, absent manifest error, and the Company, the Agents, the Issuing Lender, the Swingline Lender and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Company, the Agents and the Lenders at any reasonable time and from time to time upon reasonable prior notice. (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender that it has received (and provided its consent consent, and obtained received the consent consents of the Documentation AgentSwingline Lender, the Issuing Lender and (if applicable) the Company, with respect to) to an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. Concurrently with or prior to giving such notice to the assignor Lender, the Administrative Agent shall have recorded the information contained in such Assignment and Acceptance in the Register. No assignment shall be effective for the purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank Lender may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any LoansLoan, the Revolving Commitment of that Bank such Lender and the other interests of that Bank such Lender (the "originating BankLender") hereunder and under the other Loan Documents; provided, however, that (i) the originating BankLender's obligations under this Agreement shall remain unchanged, (ii) the originating Bank Lender shall remain solely responsible for the performance of such obligations, (iii) the Company Company, the Swingline Lender, the Issuing Lender and the Agents Administrative Agent shall continue to deal solely and directly with the originating Bank Lender in connection with the originating BankLender's rights and obligations under this Agreement and the other Loan Documents, Documents and (iv) no Bank Lender shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to 01, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Lenders or the consent of a particular Lender or the consent of the Required Revolving Lenders or Required Term Lenders, in each case as described in clauses (a) through (i) of the proviso to Section 11.1. In the case of any such participation, the Participant shall be entitled to the benefit of Sections 4.1, 4.3 and 11.5 as though it were also a Lender hereunder (provided, with respect to Sections 4.1 and 4.3, the Company shall not be required to pay any amount which it would not have any rights under this Agreement, or any of the other Loan Documentsbeen required to pay if no participating interest had been sold), and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each the Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Agreement. Each Lender which sells a participation will maintain a book entry record of ownership identifying the Participant(s) and the amount of such participation(s) owned by such Participant(s). Such book entry record of ownership shall be maintained by the Lender as agent for the Company and the Administrative Agent. This provision is intended to comply with the registration requirements in Treasury Regulation Section 5f.103-1 so that the Loans and Notes are considered to be in "registered form" pursuant to such regulation. Each Lender may furnish any information concerning the Company and its Subsidiaries in the possession of such Lender from time to time to participants and prospective participants and may furnish information in response to credit inquiries consistent with general banking practice. (ed) Notwithstanding any other provision in this Agreement, (i) any Bank Lender may at any time create a security interest in, or pledge, assign all or any portion of its rights under and interest in this Agreement and the any Note held by it to any Affiliate of such Lender that is an "Eligible Assignee" or create a security interest in, or pledge all or any portion of its rights under and interest in this Agreement and any Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14Section 203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable lawlaw and (ii) any Lender which is a fund may, pledge all or any portion of its Loans and Notes to its trustee in support of its obligations to its trustee.

Appears in 2 contracts

Samples: Credit Agreement (Del Monte Foods Co), Credit Agreement (Del Monte Foods Co)

Assignments, Participations, etc. (a) Any Agent Bank (x) may, and with the written consents of the Company and the Operating Agent, which consent of the Agents, which consents Operating Agent shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one (1) or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank banks or other Banks or to an Eligible Assignee that is an Affiliate of such assigning Bank, which Affiliate shall not itself be a bank, provided that such Affiliate has a net worth of at least Seventy-Five Million Dollars ($75,000,000), and (y) may, with notice to the Operating Agent and the Company but without the consent of the Company or either of the Agents, assign and delegate to any Affiliate of such Bank which shall itself be a bank having a combined capital, surplus and undivided profits of at least Seventy-Five Million Dollars ($75,000,000) (each such bank, assignee Bank or Affiliate, as the case may be, being an "Assignee") all), all or any ratable part of all, of the Loans, Advances or the Commitments and the or any other rights and or obligations of such Bank hereunder, hereunder in a minimum amount of Twenty Million Dollars ($5,000,00020,000,000); provided, however, that (i) the Company and the Agents may shall be entitled to continue to deal solely and directly with such assigning Bank in connection with the interest interests so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, Operating Agent shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent received an Assignment Notice and Acceptance in the form of Exhibit E G duly executed by the assigning Bank, its Assignee and the Company, ("Assignment ii) the processing fees described below shall have been paid and Acceptance"(iii) together with the assigning Bank shall have delivered to the Operating Agent any Note or Notes that shall be subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) assignment. From and after the date that (an "Assignment Effective Date") on which the Administrative Operating Agent notifies shall notify the assignor Company and the assigning Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing feei), (iii) and (iii) above shall have occurred and all consents (if any) required under the preceding sentence shall have been given: (x) the Assignee thereunder shall be deemed to be a party hereto and, to the extent that rights and obligations hereunder shall have been assigned to it pursuant to such Assignment Notice and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, Documents (including the right to receive any facility fee payable pursuant to Section 2.10(a)); and (iiy) the assignor assigning Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment Notice and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. Documents (c) Within five Business Days after its receipt and, in the case of notice by the Administrative Agent that it has received an executed Assignment Notice and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a covering all or its remaining portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the an assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no such Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participationcease to be a party thereto, the Participant shall not have any rights under this Agreementexcept as to Sections 2.15, or any of the other Loan Documents, 2.17 and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement9. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Mci Communications Corp), Revolving Credit Agreement (Mci Communications Corp)

Assignments, Participations, etc. (a) Any Agent Bank (including any Issuing Bank) may, and with the written consent of the AgentsCompany at all times other than during the existence of an Event of Default and the Administrative Agent and the Issuing Banks, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company, the Administrative Agent or any Issuing Bank shall be required in connection with any assignment and delegation by a Bank to another Bank or to an Eligible Assignee that is an Affiliate of such assigning Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitments, the Letter of Credit Obligations and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,00010,000,000; provided, however, that (i) the Company and the Agents Administrative Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance substantially in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]3,500; and (ii) if provided, further, the assignor assignment may, at the option of the assigning Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contractand the Assignor, such Bank shall not assign all any portion of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Companyany outstanding Bid Loans. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and, if required, the Administrative Agent, each Issuing Bank and the Company has each provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, (and provided that it consents to such assignment in accordance with subsection 11.8(a)), the -89- 96 Company shall shall, if requested by the Administrative Agent, execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) The Administrative Agent shall maintain at its address set forth in accordance with Section 11.2 a copy of each Assignment and Acceptance delivered to and accepted by it and a register for the recordation of the names and addresses of the Banks and the Commitments of, and principal amount of the Loans and Letter of Credit Advances owing to, each Bank from time to time (the "Register"). The entries in the Register shall be conclusive and binding for all purposes, absent manifest error, and the Company, the Administrative Agent and the Banks may treat each Person whose name is currently recorded in the Register as a Bank hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Company or any Bank at any reasonable time and from time to time upon reasonable prior notice. (e) Upon its receipt of an Assignment and Acceptance executed by an assigning Bank and an assignee representing that it is an Eligible Assignee, together with any Note or Notes subject to such assignment, the Administrative Agent shall, if such Assignment and Acceptance has been completed and is in substantially the form of Exhibit E, (i) accept such Assignment and Acceptance, (ii) record the information contained therein in the Register and (iii) give prompt notice thereof to the Company. (f) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, any Letters of Credit, the Commitment of that Bank and the other interests of that Bank (the "originating " Originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company Company, the Administrative Agent and the Agents each Issuing Bank shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Banks as described in the first proviso to Section 11. 011. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, to the extent permitted by law, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (eg) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14ss.203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law. Notwithstanding the foregoing, no such assignment shall release the assigning Bank from its obligations hereunder.

Appears in 1 contract

Samples: Credit Agreement (Citgo Petroleum Corp)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the AgentsAgent and the Issuing Lender, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitment, the L/C Obligations and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of $5,000,0005,000,000 (or, if less, all of such Lender's remaining rights and obligations hereunder); provided, however, that (i) the Company Company, the Agent and the Agents Issuing Lender may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank Lender and the Assignee; (Bii) such Bank Lender and its the Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E H ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank Lender or the Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender that it has received (and provided its consent consent, and obtained received the consent of the Documentation Agent) Issuing Lender, with respect to) to an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.assignor

Appears in 1 contract

Samples: Credit Agreement (Air Cure Technologies Inc /De)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsAgent and the Issuing Bank, which consents consent shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Agent or the Issuing Bank shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of -------- the Loans, the Commitments Commitments, the L/C Obligations and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, -------- however, that (i) the Company and the Agents Agent may continue to deal solely and ------- directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and --------- -------------- Acceptance") together with any Note or Notes subject to such assignment and (C) ---------- the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]2,500; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating ----------- interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this -------- ------- Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company Company, the Issuing Bank and the Agents Agent shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Banks as described in the first proviso to Section 11. 01. In the case of any such ----- ------- participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14(S)203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Globalcenter Inc)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsCompany at all times other than during the existence of an Event of Default and with the consent of the Agent and L/C Administrator, which consents consent of the Company, Agent or L/C Administrator shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the LoansCompany, the Commitments and Agent or the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) the Company and the Agents may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company.L/C Administrator (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and the Agent, L/C Administrator and, to the extent required, the Company have provided its their consent and obtained the consent of the Documentation Agent) with respect to) to an executed Assignment and Acceptance and that the Agent has received payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates Related Parties of the Company (a "Participant") participating interests in any LoansL/C Advance, any Letter of Credit, the L/C Commitment of that such Bank and the other interests of that such Bank (the "originating Originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company Company, the Agent and the Agents L/C Administrator shall continue to deal solely and directly with the originating Originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to 01, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Banks, as described in clause (a) of the proviso to Section 10.1. Each Bank which sells a participation will maintain a book entry record of ownership identifying the Participant(s) and the amount of such participation(s) owned by such Participant(s). Such book entry record of ownership shall be maintained by the Bank as agent for the Company and the Agent. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 3.1, or any of the other Loan Documents3.3 and 10.5 as though it were also a Bank hereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each the Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement.this (ed) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, pledge all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14Section 203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Letter of Credit Agreement (Delphi International LTD)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the prior written consent of the AgentsCompany at all times other than during the existence of an Event of Default, and the Administrative Agent, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company or the Administrative Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an a Bank Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,0005,000,000 and multiples of $1,000,000 in excess thereof; provided, however, that (i) the Company and the Agents Administrative Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the - 52 - Cinemark Investments Credit Agreement 62 Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an a Notice of Assignment and Acceptance in the form of Exhibit E C ("Notice of Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Notice of Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Notice of Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Notice of Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Notice of Assignment and Acceptance and payment of the processing fee, the Company shall shall, upon the request of the Assignee made through the Administrative Agent, execute and deliver to the Administrative Agent, one or more new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank had previously requested one or more Notes and has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Notice of Assignment and Acceptance, this Agreement Agreement, shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents Administrative Agent shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has shall have rights to approve any amendment to 01, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would extend the Maturity Date, decrease any interest or fee rate, increase any Commitment, reduce or delay any required payment or release any collateral or guarantor. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed entitled to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.the

Appears in 1 contract

Samples: Credit Agreement (Cinemark Usa Inc /Tx)

Assignments, Participations, etc. (a) Any Agent may, and with the written consent of the Agents, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) the Company and the Agents may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 83 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Falcon Holding Group Lp)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsCompany at all times other than during the existence of an Event of Default and the Administrative Agent, which consents of the Company and the Administrative Agent shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company or the Administrative Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank or another Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitments, the L/C Obligations and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,00025,000,000 for assignments to other than Affiliates; provided, however, that (i) the Company and the Agents Administrative Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E F ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company2,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment and L/C Obligations of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company Company, the Issuing Bank and the Agents Administrative Agent shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Banks as described in the first proviso to Section 11. 01. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 4.01, or any of the other Loan Documents4.03 and 11.05 as though it were also a Bank hereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14ss.203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Kerkorian Kirk)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsBorrower, the Administrative Agent and Bank of Americas as an Issuing Bank, which consents shall not be unreasonably withheldwithheld or delayed, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent the Borrower shall be required either in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an a Bank Affiliate of such BankBank or at any time that an Event of Default shall exist) (each an "Assignee") all, or any ratable part of all, of the Revolving Loans, the Commitments Revolving Commitment and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) any such assignment to an Eligible Assignee which is not a Bank or a Bank Affiliate shall be in a minimum amount equal to the Company lesser of $5,000,000 or the full amount of the assignor Bank's Revolving Loans and Revolving Commitment; and provided, still further, that the Borrower, the Issuing Banks and the Agents Administrative Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E K ("Assignment and Acceptance"); (iii) together with any Note or Notes subject to such assignment is recorded by the Administrative Agent in the Register pursuant to Section 2.02; and (Civ) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]3,500; and (ii) if provided, still further, that any assignment must include an equal percentage of the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans Bank's Revolving Commitment and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the CompanyRevolving Loans. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received the requirements of paragraph (and provided its consent and obtained the consent of the Documentation Agenta) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing feeabove are satisfied, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. Anything herein to the contrary notwithstanding, any Bank assigning all of its Revolving Loans, Revolving Commitment and other rights and obligations hereunder to an Assignee shall continue to have the benefit of all indemnities hereunder following such assignment. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and AcceptanceAcceptance and the recordation of same by the Administrative Agent in the Register pursuant to Section 2.02, this Agreement Agreement, shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments Aggregate Revolving Commitment and the outstanding Revolving Loans arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment Commitments of that such Bank and the other interests of that such Bank (the "originating Originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company Borrower, the Issuing Bank and the Agents Administrative Agent shall continue to deal solely and directly with the originating Originating Bank in connection with the originating Originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has shall have rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, provided that such Participant shall have the right to approve any amendment, consent or waiver described in clauses (ii) and (iii) of the first proviso to Section 12. 01. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 4.01, or any of 4.03 and 12.05, subject to the other Loan Documentssame limitations, as though it were also a Bank hereunder, subject to clause (f) below, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall shall, to the extent permitted under applicable law, be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision contained in this AgreementAgreement or any other Loan Document to the contrary, (i) any Bank may assign all or any portion of the Revolving Loans held by it to any Federal Reserve Bank or the United States Treasury as collateral security pursuant to Regulation A of the Federal Reserve Board and any Operating Circular issued by such Federal Reserve Bank, provided that any payment in respect of such assigned Revolving Loans made by the Borrower or Holdings to or for the account of the assigning or pledging Bank in accordance with the terms of this Agreement shall satisfy the Borrower's or Holdings' obligations hereunder in respect to such assigned Revolving Loans to the extent of such payment and (ii) with the consent of the Administrative Agent, any Bank which is a fund may at any time create a security interest in, or pledge, pledge all or any portion of its Revolving Loans to its trustee in support of its obligations to its trustee. No such assignment shall release the assigning Bank from its obligations hereunder. (f) No Participant shall be entitled to receive any greater payment under Sections 4.01 or 4.03 than such Originating Bank would have been entitled to receive with respect to the rights under and interest in this Agreement and transferred unless such transfer is made with the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable lawBorrower's prior written consent.

Appears in 1 contract

Samples: Credit Agreement (PPC Publishing Corp)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the AgentsCompany at all times other than during the existence of an Event of Default and the Administrative Agent, which consents of the Company and the Administrative Agent shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (each, an “Assignee”) (provided that no written consent of either the Company or the Administrative Agent shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee"Lender or to another Lender) all, or any ratable part of all, of the Loans, the Commitments Pro Rata Share of the Commitments, the L/C Obligations and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of $5,000,00025,000,000 for assignments to other than Affiliates; provided, however, that (i) the Company and the Agents Administrative Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank Lender and the Assignee; (Bii) such Bank Lender and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E F ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank Lender or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's ’s assigned Loans and Pro Rata Share of each Commitment and, if the assignor Bank Lender has retained a portion of its Loans and its CommitmentPro Rata Share of the Commitments, replacement Notes in the principal amount of the Loans retained by the assignor Bank Lender (such Notes to be in exchange for, but not in payment of, the Notes held by such BankLender). Immediately upon each Assignee's ’s making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Pro Rata Shares of the Commitments arising therefrom. The Pro Rata Share of each Commitment allocated to each Assignee shall reduce such Commitments Pro Rata Shares of the assigning Bank Lender pro tanto. (d) Any Bank Lender may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment Pro Rata Share of the Commitments, and L/C Obligations of that Bank Lender and the other interests of that Bank Lender (the "originating Bank"Lender”) hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's Lender’s obligations under this Agreement shall remain unchanged, (ii) the originating Bank Lender shall remain solely responsible for the performance of such obligations, (iii) the Company Company, the Issuing Lender and the Agents Administrative Agent shall continue to deal solely and directly with the originating Bank Lender in connection with the originating Bank's Lender’s rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights toLoan 01. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 4.01, or any of the other Loan Documents4.03 and 11.05 as though it were also a Lender hereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Agreement. Each Participant may have voting rights only with respect to matters involving (i) extension of the Maturity Date or any other date upon which any payment of money is due to the Lenders, (ii) reduction of the rate of interest on the Notes, any fee or any other monetary amount payable to the Lenders, (iii) reduction of the amount of any installment of principal due, (iv) release of the guaranty, or any substantial portion of the collateral, or (v) changing the definition of “Requisite Lenders. (e) Notwithstanding any other provision in this Agreement, any Bank Lender may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note Notes held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14§203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Tracinda Corp)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the AgentsCompany at all times other than during the existence of an Event of Default and the Agent and the Issuing Bank, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company, the Agent or the Issuing Bank shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender) (each an "Assignee") -------- all, or any ratable part of all, of the Loans, the Commitments Commitments, the L/C Obligations and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of $5,000,0005,000,000 or, if less, the Commitment of such Lender; provided, however, that (i) the Company and the Agents Agent may continue to deal -------- solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank Lender and the Assignee; (Bii) such Bank Lender and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note --------- ------------------------- or Notes subject to such assignment and (Ciii) the assignor Bank Lender or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, (and provided that it consents to such assignment in accordance with subsection 11.8(a)), the Company shall execute and deliver ------------------ to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank Lender has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank Lender (such Notes to be in exchange for, but not in payment of, the Notes held by such BankLender). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement Agreement, shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank Lender pro tanto.. --- ----- (d) Any Bank Lender may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating ----------- interests in any Loans, the Commitment of that Bank Lender and the other interests of that Bank Lender (the "originating BankLender") hereunder and under the other Loan Documents; provided, however, that (i) the originating BankLender's -------- ------- obligations under this Agreement shall remain unchanged, (ii) the originating Bank Lender shall remain solely responsible for the performance of such obligations, (iii) the Company Company, the Issuing Bank and the Agents Agent shall continue to deal solely and directly with the originating Bank Lender in connection with the originating BankLender's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank Lender shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Lenders as described in the first proviso to Section 11. 011. In the case of any such ----- ------- ------------ participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections -------- 4.1, or any of the other Loan Documents4.3 and 11.5 as though it were also a Lender hereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts --- --- ---- outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Agreement. (e) Each Lender agrees to take normal and reasonable precautions and exercise due care to maintain the confidentiality of all information identified as "confidential" or "secret" by the Company and provided to it by the Company or any Subsidiary, or by the Agent on such Company's or Subsidiary's behalf, under this Agreement or any other Loan Document, and neither it nor any of its Affiliates shall use any such information other than in connection with or in enforcement of this Agreement and the other Loan Documents; except to the extent such information (i) was or becomes generally available to the public other than as a result of disclosure by the Lender, or (ii) was or becomes available on a non-confidential basis from a source other than the Company, provided that such source is not bound by a confidentiality agreement with the Company known to the Lender; provided, however, that any Lender may disclose such information (A) at the -------- ------- request or pursuant to any requirement of any Governmental Authority to which the Lender is subject or in connection with an examination of such Lender by any such authority; (B) pursuant to subpoena or other court process; (C) when required to do so in accordance with the provisions of any applicable Requirement of Law; (D) to the extent reasonably required in connection with any litigation or proceeding to which the Agent, any Lender or their respective Affiliates may be party; (E) to the extent reasonably required in connection with the exercise of any remedy hereunder or under any other Loan Document; (F) to such Lender's independent auditors and other professional advisors, and (G) to any Affiliate of such Lender, or to any Participant or Assignee, actual or potential, provided that such Affiliate, Participant or Assignee agrees to keep such information confidential to the same extent required of the Lenders hereunder. (f) Notwithstanding any other provision in this Agreement, any Bank Lender may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note Notes held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable lawFRB.

Appears in 1 contract

Samples: Secured Credit Agreement (Pen Tab Industries Inc)

Assignments, Participations, etc. (a) Any Agent may, and with the written consent of the Agents, which consents shall not be unreasonably withheld, any other Bank, Lender may at any time assign and delegate to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement (provided that no written consent including all or a portion of either Agent shall be required its Commitment and the Loans (including for purposes of this subsection (b), participations in connection with any L/C Obligations and in Swing Line Loans) at the time owing to it); PROVIDED that (i) except in the case of an assignment of the entire remaining amount of the assigning Lender's Commitment and delegation by the Loans at the time owing to it or in the case of an assignment to a Bank to an Eligible Assignee that is Lender or an Affiliate of a Lender or an Approved Fund with respect to a Lender, the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) subject to each such Bank) assignment, determined as of the date of the Assignment and Acceptance with respect to such assignment is delivered to the Agent or, if the "Trade Date" is specified in the Assignment and Acceptance, as of the Trade Date, shall not be less than $5,000,000 unless the Agent, and so long as no Default or Event of Default has occurred and is continuing, the Company otherwise consents (each such consent not to be unreasonably withheld or delayed); (ii) each partial assignment shall be made as an "Assignee") all, or any ratable assignment of a proportionate part of allall the assigning Lender's rights and obligations under this Agreement with respect to the Loans or the Commitment assigned, except that this clause (ii) shall not apply to rights in respect of Swing Line Loans; (iii) any assignment of a Commitment must be approved by the Agent, the Issuing Bank and the Swing Line Bank unless the Person that is the proposed assignee is itself a Lender (whether or not the proposed assignee would otherwise qualify as an Eligible Assignee); and (iv) the parties to each assignment shall execute and deliver to the Agent an Assignment and Acceptance, together with a processing and recordation fee of $3,500. Subject to acceptance and recording thereof by the Agent pursuant to SECTION 11.08, from and after the effective date specified in each Assignment and Acceptance, the Eligible Assignee thereunder shall be a party to this Agreement and, to the extent of the Loansinterest assigned by such Assignment and Acceptance, have the Commitments and the other rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Bank hereunderAssignment and Acceptance, be released from its obligations under this Agreement (and, in a minimum amount the case of $5,000,000; provided, however, that (i) the Company and the Agents may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in covering all of the form assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Exhibit E ("Assignment SECTIONS 4.01, 4.03, 4.04, 11.04 and Acceptance") together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider 11.05 with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in facts and circumstances occurring prior to the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate effective date of such Assigneeassignment). Upon request, the Company (at its expense) shall also assume all execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such assignor Bank or Affiliate Lender of a participation in such rights and obligations in accordance with respect to such Specified Swap Contracts, with the consent of the CompanySECTION 11.08(d). (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Eligible Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, (and provided that it consents to such assignment in accordance with SECTION 11.08(a)), the Company shall execute and deliver to the Administrative Agent, new Notes (if requested by the Eligible Assignee) evidencing such Eligible Assignee's assigned Loans and Commitment and, if the assignor Bank Lender has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank Lender (such Notes to be in exchange for, but not in payment of, the Notes held by such BankLender). Immediately upon each Eligible Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Eligible Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Eligible Assignee shall reduce such Commitments of the assigning Bank pro tantoLender PRO TANTO. (d) Any Bank Lender may at any time time, without the consent of, or notice to, the Company or the Agent, sell participations to one any Person (other than a natural person or more commercial banks the Company or other Persons not Affiliates any of the Company Company's Affiliates or Subsidiaries) (each, a "ParticipantPARTICIPANT") participating interests in any all or a portion of such Lender's rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans (including such Lender's participations in L/C Obligations and/or Swing Line Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documentsowing to it); provided, however, PROVIDED that (i) the originating Banksuch Lender's obligations under this Agreement shall remain unchanged, (ii) the originating Bank such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, obligations and (iii) the Company Company, the Issuing Bank, the Agent and the Agents other Lenders shall continue to deal solely and directly with the originating Bank such Lender in connection with the originating Banksuch Lender's rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and the other Loan Documentsto approve any amendment, and (iv) no Bank shall transfer modification or grant any participating interest under which the Participant has rights to 01. In the case waiver of any provision of this Agreement; PROVIDED that such participationagreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to SECTION 11.01 that directly affects such Participant. Subject to SECTION 11.08(f), the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, agrees that each Participant shall be deemed entitled to have the right benefits of set-off in respect of its participating interest in amounts owing under this Agreement SECTIONS 4.01, 4.03 and 4.04 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to SECTION 11.08(a), PROVIDED that if because of circumstances in effect on the amount effective date of its any sale of a participating interest interest, the Company would, under SECTION 4.01, be obligated to make any payment to or for the account of the applicable Lender, the Company shall only be obligated to make such payment to the extent that it would then have been obligated to make such payment to such Lender if it had not sold such participating interest. To the extent permitted by law, each Participant also shall be entitled to the benefits of SECTION 11.10 as though it were owing directly a Lender, PROVIDED such Participant agrees to be subject to SECTION 2.14 as though it as were a Bank under this AgreementLender. (e) Notwithstanding any other provision in this Agreement, any Bank Lender may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14ss.203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law. (f) No assignee, participant or other transferee of any Lender's rights shall be entitled to receive any greater payment under ARTICLE IV than such Lender would have been entitled to receive with respect to the rights transferred or by reason of the provisions of ARTICLE IV requiring such Lender to designate a different Applicable Lending Office under certain circumstances or at a time when the circumstances giving rise to such greater payment did not exist. (g) Notwithstanding anything to the contrary contained herein, any Lender (a "GRANTING LENDER") may grant to a special purpose funding vehicle identified as such in writing from time to time by the Granting Lender to the Agent and the Company (an "SPC") the option to provide all or any part of any Revolving Loan that such Granting Lender would otherwise be obligated to make pursuant to this Agreement; PROVIDED that (i) nothing herein shall constitute a commitment by any SPC to fund any Revolving Loan, and (ii) if an SPC elects not to exercise such option or otherwise fails to make all or any part of such Revolving Loan, the Granting Lender shall be obligated to make such Revolving Loan pursuant to the terms hereof. Each party hereto hereby agrees that (i) neither the grant to any SPC nor the exercise by any SPC of such option shall increase the costs or expenses or otherwise increase or change the obligations of the Company under this Agreement (including its obligations under SECTIONS 4.01, 4.03 and 4.04), (ii) no SPC shall be liable for any indemnity or similar payment obligation under this Agreement for which a Lender would be liable, and (iii) the Granting Lender shall for all purposes, including the approval of any amendment, waiver or other modification of any provision of any Loan Document, remain the lender of record hereunder. The making of a Revolving Loan by an SPC hereunder shall utilize the Commitment of the Granting Lender to the same extent, and as if, such Revolving Loan were made by such Granting Lender. In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper or other senior debt of any SPC, it will not institute against, or join any other Person in instituting against, such SPC any bankruptcy, reorganization, arrangement, insolvency, or liquidation proceeding under the laws of the United States or any State thereof. Notwithstanding anything to the contrary contained herein, any SPC may (i) with notice to, but without prior consent of the Company and the Agent and with the payment of a processing fee of $3,500, assign all or any portion of its right to receive payment with respect to any Revolving Loan to the Granting Lender and (ii) disclose on a confidential basis any non-public information relating to its funding of Revolving Loans to any rating agency, commercial paper dealer or provider of any surety or Guarantee or credit or liquidity enhancement to such SPC. (h) Notwithstanding anything to the contrary contained herein, any Lender that is a Fund may create a security interest in all or any portion of the Loans owing to it and the Note, if any, held by it to the trustee for holders of obligations owed, or securities issued, by such Fund as security for such obligations or securities, PROVIDED that unless and until such trustee actually becomes a Lender in compliance with the other provisions of this SECTION 11.08, (i) no such pledge shall release the pledging Lender from any of its obligations under the Loan Documents and (ii) such trustee shall not be entitled to exercise any of the rights of a Lender under the Loan Documents even though such trustee may have acquired ownership rights with respect to the pledged interest through foreclosure or otherwise.

Appears in 1 contract

Samples: Credit Agreement (Century Business Services Inc)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of Company (at all times other than during the Agentsexistence of an Event of Default) and Administrative Agent (at all times), which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that but no written consent of either Company or Administrative Agent shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of $5,000,0005,000,000 (or a lesser amount, if such lesser amount constitutes all of the remaining Loans and Commitment of the assigning Lender); provided, however, that (i) the but Company and the Agents Administrative Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (A1) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank Lender and the Assignee; (B2) such Bank Lender and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance Agreement in the form of Exhibit E D ("Assignment and Acceptance") together with any Note or Notes subject to such assignment assignment, and (C3) the assignor Bank Lender or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender that it has received (and provided its consent and obtained the consent of the Documentation Agent) Company's consent, if required, with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i1) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, and (ii2) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of (1) request therefor; (2) the Note(s),if any, previously held by the assignee Lender, and (3) notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the (and provided that it consents to such assignment in accordance with Section 9.08(a)), Company shall execute and deliver to the Administrative Agent, new Notes Note(s) evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank Lender has retained a portion of its Loans and its CommitmentCommitment and has requested the execution and delivery of Note(s), replacement Notes Note(s) in the principal amount of the Loans retained by the assignor Bank Lender (such Notes to be in -55- exchange for, but not in payment of, the Notes held by such BankLender). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, extent necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank Lender pro tanto. (d) Any Bank Lender may at any time sell to one or more commercial banks Lenders or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank Lender and the other interests of that Bank Lender (the "originating BankOriginator") hereunder and under the other Loan Documents; provided, however, that but (i1) the originating BankOriginator's obligations under this Agreement shall remain unchanged, ; (ii2) the originating Bank Originator shall remain solely responsible for the performance of such obligations, ; (iii3) the Company and the Agents Administrative Agent shall continue to deal solely and directly with the originating Bank Originator in connection with the originating BankOriginator's rights and obligations under this Agreement and the other Loan Documents, and (iv4) no Bank Lender shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to 01, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of Lenders as described in Sections 9.01(a) through (e). In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan DocumentsDocument, and all amounts payable by the Company hereunder shall be determined as if such Bank Originator had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank Lender may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14Section 203.14, and such Federal Reserve Bank bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: 364 Day Revolving Credit Agreement (Commercial Metals Co)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written --------------------------------- consent of the AgentsBorrower at all times other than while an Event of Default is subsisting, and the Agent and the Issuing Bank (all of which consents in each case shall not be unreasonably withheld), any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Borrower or the Agent or the Issuing Bank shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such BankBank or that is a Bank then holding a Commitment hereunder) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitments, the L/C Obligations and the other rights and obligations of such Bank hereunder, in provided, that any such assigning Bank either retains a minimum amount Commitment and Loans of at least $5,000,000 or disposes of its entire Commitment and Loans and provided further that any Assignee shall have a Commitment and Loans of at least $5,000,000; provided, however, that (i) the Company Borrower and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of $3,500. No Assignee shall be entitled to higher recoveries or greater rights under Sections 4.1, 4.2 and 4.3 than its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Companyassignor. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing feefee and the consent of the Issuing Bank (if required), (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, (ii) this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments and Loans arising therefrom, and (iiiii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents; provided, however, that the assignor Bank shall not relinquish its rights under Article IV or under Sections 11.4 and 11.5 (and any equivalent provisions of the other Loan Documents) to the extent such rights relate to the time prior to the effective date of the Assignment and Acceptance. The Commitment allocated to each Assignee shall reduce the Commitment of the assigning Bank pro tanto. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing feefee and the consent of the Issuing Bank (if required), (and provided that it consents to such assignment in accordance with subsection 11.8(a)), the Company Borrower shall execute and deliver to the Administrative Agent, Agent any new Notes requested by such Assignee evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in as requested by the principal amount of assignor Bank evidencing the Loans and Commitment retained by the such assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrower (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, -------- however, that (i) the originating Bank's obligations under this Agreement shall ------- remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company Borrower, the Issuing Bank and the Agents Agent shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Banks as described in the first proviso to Section 11. 011. In the case of any such participation, the Participant shall be entitled to the benefit of Sections 4.1, 4.3 and 11.5 as though it were also a Bank hereunder, and shall not otherwise have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company Borrower hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the any Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14ss.203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Storage Technology Corp)

Assignments, Participations, etc. (a) Any Agent Lender may, and with (A) the written consent of the AgentsBorrower, which consents consent shall not be unreasonably withheld (provided that such consent shall not be required (i) at any time that an Event of Default exists, (ii) in connection with an assignment of a Term Loan to a Related Fund or (iii) in connection with an assignment by Antares of the Term Loan, or any portion thereof, prior to completion of the primary syndication), (B) the written consent of Agent, which shall not be unreasonably withheld, and (C) with respect to any other Bankassignment of any Revolving Loan Commitment, may the written consent of all Issuing Lenders, at any time assign and delegate to one or more Eligible Assignees (provided that no the written consent of either the Agent or Borrower shall not be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender) (each an "Assignee") all, or any ratable part of allof, of the Loans, the Commitments and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of $5,000,0005,000,000 (or such lesser amount to which Agent, in its sole discretion, may agree) or, if less, the entire Commitment or Loan(s) of such Lender; provided, however, that (i) the Company Borrower and the Agents Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until until: (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank Lender and the Assignee; ; (Bii) such Bank Lender and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E and substance reasonably satisfactory to Agent, such Lender and its Assignee (an "Assignment and Acceptance") together with any Note or Notes subject to such assignment and ); and (Ciii) the assignor Bank Lender or the Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is 3,500 provided no processing fee shall be required to be paid in connection with an assignment by a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments Lender to an Eligible Assignee unless such Assignee, or that is an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the CompanyLender. (b) From Subject to the provisions of subsection 9.8(f) below, from and after the date that the Administrative Agent notifies the assignor Bank Lender that it the Agent has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) to an executed Assignment and Acceptance and payment of the above-referenced processing fee, : (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under this Agreement and the other Loan Documents, and ; and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt Subject to the provisions of notice by subsection 9.8(f) below, immediately upon the Administrative Agent that it has received an executed Assignment and Acceptance and payment making of the processing fee, the Company shall execute and deliver fee payment to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion Agent in respect of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments Commitment of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement Lender to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreementextent. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Brickman Group LTD)

Assignments, Participations, etc. (a) Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Indemnitees) any legal or equitable right, remedy or claim under or by reason of this Agreement. (b) Any Agent may, and with the written consent of the Agents, which consents shall not be unreasonably withheld, any other Bank, Lender may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent all or a portion of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other its rights and obligations under this Agreement (including all or a portion of such Bank hereunderits Commitment and the Loans (including for purposes of this subsection (b), participations in a minimum amount of $5,000,000L/C Obligations) at the time owing to it); provided, however, provided that (i) except in the Company case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Agents may continue Loans at the time owing to deal solely and directly it or in the case of an assignment to a Lender or an Affiliate of a Lender or an Approved Fund with such Bank in connection with respect to a Lender, the interest so assigned aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) subject to an Assignee until (A) written notice of each such assignment, together determined as of the date the Assignment and Assumption with payment instructionsrespect to such assignment is delivered to the Administrative Agent or, addresses if “Trade Date” is specified in the Assignment and related information Assumption, as of the Trade Date, shall not be less than $5,000,000 unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Company otherwise consents (each such consent not to be unreasonably withheld or delayed), (ii) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the AssigneeLoans or the Commitment assigned, (iii) the parties to each assignment shall have been given execute and deliver to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") Assumption, together with any Note or Notes subject a processing and recordation fee of $3,500 and (iv) each Issuing Lender and the Swing Line Lender shall have consented to such assignment (which consent shall not be unreasonably withheld or delayed). Subject to acceptance and (C) the assignor Bank or Assignee has paid to each recording thereof by the Administrative Agent a processing fee in the amount pursuant to subsection (c) of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contractthis Section, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) From from and after the effective date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed specified in each Assignment and Acceptance and payment of Assumption, the above-referenced processing fee, (i) the Eligible Assignee thereunder shall be a party hereto to this Agreement and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and AcceptanceAssumption, shall have the rights and obligations of a Bank Lender under the Loan Documentsthis Agreement, and (ii) the assignor Bank assigning Lender thereunder shall, to the extent that rights and obligations hereunder and under of the other Loan Documents have been interest assigned by it pursuant to such Assignment and AcceptanceAssumption, relinquish its rights and be released from its obligations under this Agreement (and, in the Loan Documentscase of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 4.01, 4.02 and 4.05 with respect to facts and circumstances occurring prior to the effective date of such assignment). Upon request, the Borrowers (at their expense) shall execute and deliver new or replacement Notes to the assigning Lender and the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with subsection (d) of this Section. (c) Within five Business Days after its receipt The Administrative Agent, acting solely for this purpose as an agent of notice by the Borrowers, shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, absent manifest error, and the Borrowers, the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, Lenders may treat each Person whose name is recorded in the Company shall execute and deliver Register pursuant to the Administrative Agentterms hereof as a Lender hereunder for all purposes of this Agreement, new Notes evidencing such Assignee's assigned Loans and Commitment and, if notwithstanding notice to the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained contrary. The Register shall be available for inspection by the assignor Bank (such Notes Borrowers and any Lender, at any reasonable time and from time to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately time upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tantoreasonable prior notice. (d) Any Bank Lender may at any time time, without the consent of, or notice to, the Borrowers or the Administrative Agent, sell participations to one any Person (other than a natural person or more commercial banks the Company or other Persons not Affiliates any of the Company Company’s Affiliates or Subsidiaries (each, a "Participant") participating interests in any Loans, all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Commitment of that Bank and the other interests of that Bank Loans (the "originating Bank"including such Lender’s participations in L/C Obligations) hereunder and under the other Loan Documentsowing to it); provided, however, provided that (i) the originating Bank's such Lender’s obligations under this Agreement shall remain unchanged, (ii) the originating Bank such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, and (iii) the Company Borrowers, the Administrative Agent and the Agents other Lenders shall continue to deal solely and directly with the originating Bank such Lender in connection with the originating Bank's such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other Loan Documentsmodification that would (i) postpone any date upon which any payment of money is scheduled to be paid to such Participant, (ii) reduce the principal, interest, fees or other amounts payable to such Participant, (iii) release the Company as a Guarantor from the Master Guaranty and Intercreditor Agreement or (iv) no Bank shall transfer release all or grant any participating interest substantially all of the Guarantors from liability under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under Master Guaranty and Intercreditor Agreement except in accordance with this Agreement. Subject to subsection (e) of this Section, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Borrower agrees that each Participant shall be deemed entitled to have the right benefits of set-off in respect of its participating interest in amounts owing under this Agreement Sections 4.01, 4.02 and 4.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section. To the amount extent permitted by law, each Participant also shall be entitled to the benefits of its participating interest Section 11.09 as though it were owing directly a Lender, provided such Participant agrees to be subject to Section 2.13 as though it as were a Bank under this AgreementLender. (e) Notwithstanding A Participant shall not be entitled to receive any other provision in this Agreementgreater payment under Section 4.01 or 4.02 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, any Bank unless the sale of the participation to such Participant is made with the Company’s prior written consent. A Participant that would be a foreign Person if it were a Lender shall not be entitled to the benefits of Section 4.01 unless the Company is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrowers, to comply with Section 4.01 as though it were a Lender. (f) Any Lender may at any time create pledge or assign a security interest in, or pledge, in all or any portion of its rights under and interest in this Agreement and the Note held by it in favor (including under its Notes, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce Bank; provided that no such pledge or security interest in assignment shall release such Lender from any manner permitted under applicable lawof its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. (g) As used herein, the following terms have the following meanings:

Appears in 1 contract

Samples: Credit Agreement (Aecom Technology Corp)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsBorrower, the Agent and the Issuing Bank, which consents consent of the Borrower shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided provided, that no written consent of either the Borrower, the Agent or the Issuing Bank shall be required in connection with any assignment and delegation by a Bank to (x) an Eligible Assignee that is an Affiliate of such BankBank or (y) another Bank (each an "Assignee"”)) all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) the Company Borrower, the Agent and the Agents Issuing Bank may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower, the Agent and the Administrative Agent Issuing Bank by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company Borrower, the Agent and the Administrative Agent Issuing Bank an Assignment and Acceptance in the form of Exhibit E ("an “Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]4,000; and (ii) if provided, further, each Bank’s Pro Rata Share shall be the assignor Bank or any same in each type of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the CompanyCommitment. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and the Borrower, the Agent and the Issuing Bank have provided its their consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan DocumentsDocuments (and, in the case of an Assignment and Acceptance covering all of the assigning Bank’s rights and obligations under this Agreement, such Bank shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 4.1, 4.3, 4.4, 12.4 and 12.5 with respect to facts and circumstances occurring prior to the effective date of such assignment). (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing feefee (and provided, that the Borrower consents to such assignment in accordance with Section 12.9(a)), the Company shall Borrower shall, if requested by the Assignee or the assignor Bank thereunder, execute and deliver to the Administrative Agent, Agent new Notes evidencing such Assignee's ’s assigned Loans and Commitment Commitments and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans and Commitments retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank)) and the assignor Bank shall deliver its Note or Notes marked “exchanged” or “cancelled,” as applicable, to the Agent. Immediately upon each Assignee's making its payment of the processing fee payment under the Assignment and AcceptanceAcceptance and the satisfaction of the other conditions set forth in Section 12.9(a), this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) The Agent shall maintain at its address referred to in Schedule 12.2 a copy of each Assignment and Acceptance delivered to and accepted by it and a register for the recordation of the names and addresses of the Banks and the Commitment of, and principal amount of the Loans owing to, each Bank from time to time (the “Register”). The entries in the Register shall be conclusive and binding for all purposes, absent manifest error, and the Borrower, the Agent and the Banks may treat each Person whose name is recorded in the Register as a Bank hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Borrower or any Bank at any reasonable time and from time to time upon reasonable prior notice. Any assignment of any Loan or other obligations shall be effective only upon an entry with respect thereto being made in the Register. (e) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrower (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating “Originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Originating Bank's ’s obligations under this Agreement shall remain unchanged, (ii) the originating Originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company Borrower, the Agent, the Issuing Bank and the Agents other Banks shall continue to deal solely and directly with the originating Originating Bank in connection with the originating Originating Bank's ’s rights and obligations under this Agreement and the other Loan Documents, and (iv) no . Any agreement or instrument pursuant to which a Bank sells such a participation shall provide that such Bank shall transfer retain the sole right to enforce this Agreement and to approve any amendment, modification or grant waiver of any participating interest under which provision of this Agreement; provided that such agreement or instrument may provide that such Bank will not, without the Participant has rights to 01consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to Section 12.1 that directly affects such Participant. In the case of any such participation, the Participant shall be entitled to the benefit of Sections 4.1, 4.3, 4.4 and 12.5 as though it were also a Bank hereunder (but not in any greater amounts than would have been payable to the Bank selling the participation if no participation were sold), and not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company Borrower hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement, provided such Participant agrees to be subject to Section 2.14 as though it were a Bank. (ef) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest Nothing contained in this Agreement and the Note held by it shall prevent a Bank from pledging its interest in favor of any its Loans to a Federal Reserve Bank in the Federal Reserve System of the United States in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law. (g) After payment in full of, and satisfaction of all Obligations under, any Note, the Bank or other party holding such Note agrees to promptly return such Note marked “Paid in Full” to the Borrower. (h) Notwithstanding the foregoing provisions of this Section 12.9, no assignment or participation may be made if such assignment or participation involves, or could involve, the use of assets that constitute, or may be deemed under ERISA, the Code or any other applicable law, or any ruling or regulation issued thereunder, or any court decision, to constitute the assets of any employee benefit plan (as defined in section 3(3) of ERISA) or any plan as defined in section 4975(e)(1) of the Code).

Appears in 1 contract

Samples: Credit Agreement (Amerigas Partners Lp)

Assignments, Participations, etc. (a) Any Agent Revolving Lender may, and with the written consent of the AgentsCompany at all times (other than during the existence of a Revolving Loan Event of Default) and the Administrative Agent, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company, or the Administrative Agent shall be required in connection with an assignment and delegation by Bank of America or in connection with any assignment and delegation by a Bank Revolving Lender to an Eligible Assignee that is an Affiliate of such BankRevolving Lender) (each an "Assignee") all, or any ratable part of all, of the Revolving Loans, the Commitments Revolving Commitment, the L/C Obligations and the other rights and obligations of such Bank Revolving Lender hereunder, in a minimum amount of $5,000,000; 5,000,000 (provided that no minimum amount shall be applicable to any assignment and delegation to an existing Revolving Lender or an Affiliate of a Revolving Lender or to an assignment of the entire remaining amount of the Revolving Loans and Revolving Commitment of a Revolving Lender) provided, however, that (i) the Company and the Agents Administrative Agent may continue to deal solely and directly with such Bank Revolving Lender in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank Revolving Lender and the Assignee; (Bii) such Bank Revolving Lender and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance substantially in the form of Exhibit E G ("Assignment and Acceptance") ), together with any Note or Notes subject to such assignment and assignment, (Ciii) the assignor Bank Revolving Lender or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, 3,000 and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In information in the case of any such participation, Assignment and Acceptance is recorded in the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed Register pursuant to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreementsubsection (d) hereof. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Nebco Evans Holding Co)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsCompany at all times other than during the existence of an Event of Default and the Agent, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company or the Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the LoansAdvances, the Commitments its Commitment hereunder and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) the Company and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E G ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or 2,500. The Company shall not be responsible for reimbursing any of its Affiliates is a Swap Provider with respect costs related to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Companyassignment hereunder. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under this Agreement and the Loan DocumentsNotes, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents Notes have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement and the Loan DocumentsNotes. (c) Within five Business Banking Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, (and provided that it consents to such assignment in accordance with subsection 14.11), the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans Advances and Commitment and, if the assignor Bank has retained a portion of its Loans Advances and its Commitmentcommitment, replacement Notes in the principal amount of the Loans Advances retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments the Commitment of the assigning Bank pro tantoby the amount of the Commitment assigned. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any LoansAdvances, the Commitment of that Bank and the other interests of that Bank (the "originating Originating Bank") hereunder and under the other Loan DocumentsNotes; provided, however, that (i) the originating Originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents Agent shall continue to deal solely and directly with the originating Originating Bank in connection with the originating Originating Bank's rights and obligations under this Agreement and the other Loan DocumentsNotes, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to 01, or any consent or waiver with respect to, this Agreement or any Note, except to the extent such amendment, consent or waiver would require unanimous consent of the Banks. In the case of any such participation, the Participant shall be entitled to the benefit of Sections 6 and 14.3 as though it were also a Bank hereunder, but shall not have any rights under this Agreement, or any of the other Loan DocumentsNotes, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the any Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14Section 203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Revolving Loan Agreement (North Star Universal Inc)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the AgentsCompany at all times other than during the existence of an Event of Default and the Administrative Agent, the Swing Line Lender and the Issuers, which consents shall not be unreasonably withheldwithheld or delayed, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (each an "Assignee") all, or any part of all, of the Loans, the Commitments, the L/C Obligations and the other rights and obligations of such Lender hereunder, in a minimum amount (other than with respect to an assignment to an Eligible Assignee that is a Lender or an Affiliate or an Approved Fund of such assigning Lender) of $5,000,000 or, if less, the total amount of such Lender's outstanding Loans and/or Commitments (provided that no written consent of the Company, the Administrative Agent, the Swing Line Lender or either Agent Issuer shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is a Lender or an Affiliate or Approved Fund of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000assigning Lender); provided, however, provided that (i) the Company and the Agents Administrative Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank Lender and the Assignee; (Bii) such Bank Lender and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E C ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank Lender or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) 3,500. Each Assignee, if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank it shall not assign be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire in which the assignee designates one or more credit contacts to whom all of its interest syndicate-level information (which may contain material non-public information about the Company, the other Loan Parties and their related parties or their respective securities) will be made available and who may receive such information in the 76 128 Loans and the Commitments to an Assignee unless accordance with such Assignee's compliance procedures and applicable laws, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Companyincluding federal and state securities laws. (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender that it has received (and and, if required, provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder (including any obligation under Section 10.10) have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing feefee (and, if required, provided that it consents to such assignment in accordance with subsection 11.08(a)), the Company shall execute and deliver to the Administrative Agent, new Notes to the extent requested by the applicable Assignee, a Note evidencing such Assignee's assigned purchased Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank Lender pro tanto. (d) Any Bank Lender may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank Lender and the other interests of that Bank Lender (the "originating BankLender") hereunder and under the other Loan Documents; provided, however, provided that (i) the originating BankLender's obligations under this Agreement shall remain unchanged, (ii) the originating Bank Lender shall remain solely responsible for the performance of such obligations, (iii) the Company Company, each Issuer and the Agents Administrative Agent shall continue to deal solely and directly with the originating Bank Lender in connection with the originating BankLender's rights and obligations under this Agreement and the other Loan Documents, Documents and (iv) no Bank Lender shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to 01, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Lenders as described in clause (a) (but only in respect of any increase of any Commitment of any originating Lender), (b) or (e) of the first proviso to Section 11.01. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 4.01, or any of the other Loan Documents4.03 and 11.05 as though it were also a Lender hereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank Lender may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14§203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Regis Corp)

Assignments, Participations, etc. (a) Any Agent The Bank may, and with the written consent of the Agents, Company at all times other than during the existence of an Event of Default which consents consent of the Company shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees Persons (provided that no written consent of either Agent the Company shall be required in connection with any assignment and delegation by a the Bank to an Eligible Assignee a Person that is an Affiliate of such the Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Revolving Commitment and the other rights and obligations of such the Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) the Company and the Agents may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Revolving Commitment of that the Bank and the other interests of that the Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 3.01, or any of 3.03 and 9.05 as though it were also the other Loan DocumentsBank hereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a the Bank under this Agreement. (ec) Notwithstanding Each Participant that is not a United States person (as such term is defined in Section 7701(a)(30) of the Code) for U.S. federal income tax purposes, shall, (i) prior to becoming a Participant, provide to the Company two original signed copies of United States Internal Revenue Service Form 4224 or Form 1001 certifying to such Participant's entitlement to a complete exemption from United States withholding tax with respect to any sums payable to such Participant under this Agreement or any other provision Loan Document, and (ii) prior to the date any such form expires or becomes obsolete, provide to the Company reasonably sufficient documentation demonstrating that such Participant remains entitled to such complete exemption from United States withholding tax. Notwithstanding the provisions of Section 3.01 herein, neither the Company nor any Subsidiary shall be required to pay any additional amounts in respect of this Agreement, any Bank may at any time create a security interest in, or pledge, all Agreement or any portion of its rights under and interest in this Agreement and other Loan Document to the Note held by it in favor extent that the obligation to pay such amounts results from the failure of any Federal Reserve Bank in accordance Participant to comply with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable lawthis paragraph (c).

Appears in 1 contract

Samples: Credit Agreement (Med E America Corp)

Assignments, Participations, etc. (a) Subject to Sections 11.08(b) and 11.08(e): ----------------- -------- (i) Any Agent may, and Lender may with the written prior consent of the Agents, Company and the Agent (which consents will not be unreasonably withheld and which consent of the Company shall not be unreasonably withheld, any other Bank, may required if a Default or Event of Default exists) at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, all or any ratable part fraction of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, its Commitment or outstanding Loans in a minimum amount of $25,000,000 and in multiples of $1,000,000 in excess thereof or, if its Commitment is less than $25,000,000, in the amount of its Commitment. (ii) Any Lender may without the prior consent of the Company assign to another Lender all or any fraction of its Commitment or outstanding Loans in a minimum amount of $5,000,000 and in multiples of $1,000,000 in excess thereof or, if the Commitment is less than $5,000,000, in the amount of its Commitment. (iii) Any Lender may at any time assign all or any portion of its rights under this Agreement and any note issued pursuant to Section 2.03(b) --------------- to a Federal Reserve Bank; provided, however, that no such assignment shall -------- ------- release any Lender from its obligations hereunder. (iiv) Any Lender, if so requested by the Company under Section 4.09, ------------ shall assign to another Eligible Assignee its entire Commitment and all outstanding Loans. (b) No assignment shall become effective, and the Company and the Agents may Agent shall be entitled to continue to deal solely and directly with such Bank each Lender in connection with the interest interests so assigned by such Lender to an Assignee Assignee, until (Ai) such Lender and such Assignee shall have executed an Assignment and Assumption Agreement substantially in the form of Exhibit 11.08(b) and written ---------------- notice of such assignment, together with payment instructions, addresses addresses, and related information with respect to the Assignee, such Assignee shall have been given to the Company and the Administrative Agent by such Bank Lender and the such Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance , in substantially the form of Attachment A to Exhibit E 11.08(b) (a "Assignment and AcceptanceNotice of Assignment"); (ii) together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing ------------ ---------------- -------------------- fee in the amount of $3,500 shall have been paid to the Agent by the assignor Lender or the Assignee; and (iii) either (A) five Business Days shall have elapsed after receipt by the Agent of the items referred to in clauses (i) and ----------- (ii) or (B) if earlier, the Agent has notified the assignor Lender and the ---- --- Assignee of its $[______________]; receipt of the items mentioned in clauses (i) and (ii) if and that ----------- ---- it has acknowledged the assignor Bank or any assignment by countersigning the Notice of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the CompanyAssignment. (bc) From and after the effective date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing feeany assignment hereunder, (i) the Assignee thereunder shall be deemed automatically to have become a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and AcceptanceAssignee by the assignor Lender, shall have the rights and obligations of a Bank Lender hereunder and under the each other Loan DocumentsDocument, and (ii) the assignor Bank shallLender, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptancethe Assignee, relinquish its rights and shall be released from its future obligations hereunder and under the each other Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tantoDocument. (d) Any Bank Subject to Section 11.08(e), any Lender may at any time sell to one ---------------- or more commercial banks financial institutions or other Persons not Affiliates (each of the Company (such Persons being herein called a "Participant") participating interests in any of the Loans, the its ----------- Commitment of that Bank and the or other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documentssuch Lender hereunder; provided, however, that ----------------- that (i) the originating Bank's no participation contemplated in this Section 11.08(d) shall ---------------- relieve such Lender from its Commitment or its other obligations hereunder or under this Agreement shall remain unchanged, any other Loan Document; (ii) the originating Bank such Lender shall remain solely responsible for the performance of its Commitment and such other obligations, ; (iii) the Company and the Agents Agent shall continue to deal solely and directly with the originating Bank such Lender in connection with the originating Banksuch Lender's rights and obligations under this Agreement and the each other Loan Documents, and Document; and (iv) no Bank Participant, unless such Participant is an Affiliate of such Lender, shall transfer be entitled to require such Lender to take or grant refrain from taking any participating interest action hereunder or under which any other Loan Document, except that such Lender may agree with any Participant that such Lender will not, without such Participant's consent, take any action of the Participant has rights to 01type described in Section 11.02. In the case ------------- The Company acknowledges and agrees that each Participant, for purposes of any such participationSections 3.04, the 3.05, 4.02, 4.03, 4.05, 4.06 or 11.06, shall be considered a ------------------------------------------- ----- Lender; provided, however, that for purposes of Sections 3.04, 4.02, 4.03, 4.05 -------- ------- ------------------------------- and 4.06, no Participant shall not be entitled to receive any payment or ---- compensation in excess of that to which such Participant's selling Lender would have any rights under this Agreement, or any been entitled with respect to the amount of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as such Participant's participation interest if such Bank Lender had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreementparticipation interest. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Georgia Pacific Corp)

Assignments, Participations, etc. (a) Any Agent may, and with the written consent of the Agents, which consents shall not be unreasonably withheld, any other Bank, Lender may at any time assign and delegate to one or more Eligible Assignees financial institutions (provided that no written consent an “Assignee”) all or a portion of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other its rights and obligations under this Agreement (including all or a portion of such Bank hereunder, in a minimum amount of $5,000,000the Loans at the time owing to it); provided, however, provided that (i) except in the Company and case of an assignment of the Agents may continue entire remaining amount of the assigning Lender’s Loans at the time owing to deal solely and directly it or in the case of an assignment to a Lender or an Affiliate of a Lender or an Approved Fund with such Bank in connection with respect to a Lender, the interest so assigned outstanding balance of the Loans of the assigning Lender subject to an Assignee until (A) written notice of each such assignment, together determined as of the date the Assignment and Assumption with payment instructionsrespect to such assignment is delivered to the Administrative Agent or, addresses if “Trade Date” is specified in the Assignment and related information Assumption, as of the Trade Date, shall not be less than $1,000,000, unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Company otherwise consents (each such consent not to be unreasonably withheld or delayed), and (ii) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Assignee, shall have been given Loans assigned. Subject to the Company acceptance and recording thereof by the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered pursuant to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. subsection (b) From of this Section, from and after the effective date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed specified in each Assignment and Acceptance and payment of the above-referenced processing feeAssumption, (i) the Assignee thereunder shall be a party hereto to this Agreement and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and AcceptanceAssumption, shall have the rights and obligations of a Bank Lender under the Loan Documentsthis Agreement, and (ii) the assignor Bank assigning Lender thereunder shall, to the extent that rights and obligations hereunder and under of the other Loan Documents have been interest assigned by it pursuant to such Assignment and AcceptanceAssumption, relinquish its rights and be released from its obligations under this Agreement (and, in the Loan Documentscase of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 3.01, 3.02, 3.03 and 10.05 with respect to facts and circumstances occurring prior to the effective date of such assignment). Upon request, the Company (at its expense) shall execute and deliver new or replacement Notes to the assigning Lender and the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with subsection (c) of this Section. (b) The Administrative Agent, acting solely for this purpose as an agent of the Company, shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and principal amounts of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and the Company, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Company and any Lender, at any reasonable time and from time to time upon reasonable prior notice. (c) Within five Business Days after its receipt of Any Lender may at any time, without the consent of, or notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing feeto, the Company shall execute and deliver to or the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment andsell participations to any Person (other than a natural person or the Company or any of the Company’s Affiliates or Subsidiaries (each, if the assignor Bank has retained a “Participant”) in all or a portion of its Loans and its Commitment, replacement Notes in the principal amount such Lender’s rights and/or obligations under this Agreement (including all or a portion of the Loans retained by the assignor Bank (such Notes owing to be in exchange for, but not in payment of, the Notes held by such Bankit). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, provided that (i) the originating Bank's such Lender’s obligations under this Agreement shall remain unchanged, (ii) the originating Bank such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, obligations and (iii) the Company Company, the Administrative Agent and the Agents other Lenders shall continue to deal solely and directly with the originating Bank such Lender in connection with the originating Bank's such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and the other Loan Documentsto approve any amendment, and (iv) no Bank shall transfer modification or grant any participating interest under which the Participant has rights to 01. In the case waiver of any provision of this Agreement; provided that such participationagreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification that would (i) postpone any date upon which any payment of money is scheduled to be paid to such Participant, or (ii) reduce the principal, interest, fees or other amounts payable to such Participant, or (iii) release all or substantially all of the Collateral. Subject to subsection (e) of this Section, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, agrees that each Participant shall be deemed entitled to have the right benefits of set-off in respect of its participating interest in amounts owing under this Agreement Sections 3.01, 3.02, 3.03 and 10.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section. To the amount extent permitted by law, each Participant also shall be entitled to the benefits of its participating interest Section 10.10 as though it were owing directly a Lender, provided such Participant agrees to be subject to Section 2.12 as though it were a Lender. (d) A Participant shall not be entitled to receive any greater payment under Section 3.01 or 3.02 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Company’s prior written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 3.01 unless the Company is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Company, to comply with Section 10.13 as though it were a Bank under this AgreementLender. (e) Notwithstanding any other provision in this Agreement, any Bank Any Lender may at any time create pledge or assign a security interest in, or pledge, in all or any portion of its rights under and interest in this Agreement and the Note held by it in favor (including under its Notes, if any) to secure obligations of such Lender, including any Federal Reserve Bank in accordance with Regulation A of the FRB pledge or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce assignment to secure obligations to an FRB; provided that no such pledge or security interest in assignment shall release such Lender from any manner permitted under applicable lawof its obligations hereunder or substitute any such pledge or assignee for such Lender as a party hereto.

Appears in 1 contract

Samples: Credit Agreement (Hercules Technology Growth Capital Inc)

Assignments, Participations, etc. (a) Any Agent may, and with the written consent of the Agents, which consents shall not be unreasonably withheld, any other Bank, Bank may at any time assign and delegate to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Revolving Commitment, Letter of Credit Liabilities, and the Loans at the time owing to it); provided that no written consent (i) except in the case of either Agent shall be required an assignment of the entire remaining amount of the assigning Bank’s Revolving Commitment, Letter of Credit Liabilities, and the Loans at the time owing to it or in connection with any the case of an assignment and delegation by to a Bank to an Eligible Assignee that is or an Affiliate of a Bank or an Approved Fund with respect to a Bank, the amount of the Revolving Commitment (which for this purpose includes Loans and Letter of Credit Liabilities outstanding thereunder) subject to each such Bankassignment (determined as of the date the Assignment and Assumption Agreement, as hereinafter defined, with respect to such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000, unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Company otherwise consent (each such consent not to be unreasonably withheld or delayed), (ii) each partial assignment shall be made as an "Assignee") all, or any ratable assignment of a proportionate part of all, of all the assigning Bank’s rights and obligations under this Agreement with respect to the Loans, the Commitments Letter of Credit Liabilities, and/or the Revolving Commitment assigned and (iii) the parties to each assignment shall execute and deliver to the Administrative Agent an agreement, substantially in the form of Exhibit C hereto (an “Assignment and Assumption Agreement”), together with a processing and recordation fee of $3,500, and the other Eligible Assignee, if it shall not be a Bank, shall deliver to the Administrative Agent an Administrative Questionnaire. Subject to acceptance and recording thereof by the Administrative Agent pursuant to Section 2.02(a), from and after the effective date specified in each Assignment and Assumption Agreement, the Eligible Assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption Agreement, have the rights and obligations of a Bank under this Agreement, and the assigning Bank thereunder shall, to the extent of the interest assigned by such Assignment and Assumption Agreement, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption Agreement covering all of the assigning Bank’s rights and obligations under this Agreement, such Bank hereundershall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 3.01, 3.03, 10.04, and 10.05). Any assignment or transfer by a Bank of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Bank of a participation in such rights and obligations in accordance with paragraph (b) of this Section. (b) Any Bank may, without the consent of, or notice to, the Company or the Administrative Agent, sell participations to one or more banks or other entities (a minimum amount “Participant”) in all or a portion of $5,000,000such Bank’s rights and/or obligations under this Agreement (including all or a portion of its Revolving Commitment, the Loans and/or the Letter of Credit Liabilities at the time owing to it); provided, however, provided that (i) such Bank’s obligations under this Agreement shall remain unchanged, (ii) such Bank shall remain solely responsible to the Company other parties hereto for the performance of such obligations and (iii) the Company, the Administrative Agent and the Agents may other Banks shall continue to deal solely and directly with such Bank in connection with the interest so assigned such Bank’s rights and obligations under this Agreement. Any agreement or instrument pursuant to an Assignee until (A) written notice of which a Bank sells such assignment, together with payment instructions, addresses and related information with respect to the Assignee, a participation shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, provide that such Bank shall not assign all retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of its interest in the 76 128 Loans and the Commitments to an Assignee unless any provision of this Agreement; provided that such Assigneeagreement or instrument may provide that such Bank will not, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with without the consent of the Company. Participant, agree to any amendment, modification or waiver described in clause (a), (b) From and after or (c) of Section 10.01 that affects such Participant. Subject to paragraph (c) of this Section, the date Company agrees that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder each Participant shall be a party hereto and, entitled to the benefits of Sections 3.01, 3.02, 3.03 and 3.04 to the same extent that rights as if it were a Bank and obligations hereunder have been assigned to it had acquired its interest by assignment pursuant to such Assignment and Acceptance, shall have the rights and obligations paragraph (a) of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documentsthis Section. (c) Within five Business Days after its receipt of notice by A Participant shall not be entitled to receive any greater payment under Section 3.01 or 3.03 than the Administrative Agent that it has received an executed Assignment and Acceptance and payment applicable Bank would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the processing fee, participation to such Participant is made with the Company’s prior written consent. A Participant organized under the laws of a jurisdiction outside the United States shall not be entitled to the benefits of Section 3.01 unless the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount is notified of the Loans retained by participation sold to such Participant and such Participant agrees, for the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition benefit of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated Company, to each Assignee shall reduce such Commitments of the assigning Bank pro tantocomply with Section 3.01(f) as though it were a Bank. (d) Any Bank may at any time sell to one pledge or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create assign a security interest in, or pledge, in all or any portion of its rights under and interest in this Agreement and the Note held by it in favor to secure obligations of such Bank, including without limitation any pledge or assignment to secure obligations to a Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce Bank; provided that no such pledge or assignment of a security interest shall release a Bank from any of its obligations hereunder or substitute any such pledgee or assignee for such Bank as a party hereto. (e) Notwithstanding anything to the contrary contained herein, any Bank (a “Granting Bank”) may grant to a special purpose funding vehicle identified as such in writing from time to time by the Granting Bank to the Administrative Agent and the Company (an “SPC”), the option to provide to the Company all or any part of any Loan that such Granting Bank would otherwise be obligated to make to the Company pursuant to this Agreement; provided that (i) nothing herein shall constitute a commitment by any SPC to make any Loan, (ii) the Granting Bank’s obligations under this Agreement shall remain unchanged and (iii) if an SPC elects not to exercise such option or otherwise fails to provide all or any part of such Loan, the Granting Bank shall be obligated to make such Loan pursuant to the terms hereof. The making of a Loan by an SPC hereunder shall utilize the Revolving Commitment of the Granting Bank to the same extent, and as if, such Loan were made by such Granting Bank. Each party hereto hereby agrees that no SPC shall be liable for any indemnity or similar payment obligation under this Agreement (all liability for which shall remain with the Granting Bank). In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper or other senior indebtedness of any SPC, it will not institute against, or join any other person in instituting against, such SPC any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding under the laws of the United States or any State thereof. In addition, notwithstanding anything to the contrary contained in this Section 10.08, any SPC may with notice to, but without (except as specified below) the prior written consent of, the Company and the Administrative Agent and without paying any processing fee therefor, assign all or a portion of its interests in any manner Loans to the Granting Bank or to any financial institution (consented to by the Administrative Agent and, so long as no Event of Default has occurred, the Company, which consents shall not be unreasonably withheld or delayed) providing liquidity and/or credit support to or for the account of such SPC to support the funding or maintenance of Loans. Any SPC shall be a Transferee for purposes of Section 10.09 hereof, provided that in addition to disclosures permitted under applicable lawpursuant to Section 10.09, an SPC may disclose on a basis acknowledged by the recipient as confidential any non-public information relating to its Loans to any rating agency, commercial paper dealer or provider of any surety, guarantee or credit or liquidity enhancement to such SPC. An amendment to this subsection (e) without the written consent of an SPC shall be ineffective insofar as it alters the rights and obligations of such SPC.

Appears in 1 contract

Samples: Credit Agreement (General Mills Inc)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the AgentsCompany (unless an Event of Default exists), the Accepting Lender, the Swing Line Lender and the Agent, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company, the Accepting Lender, the Swing Line Lender or the Agent shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitment and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of $5,000,00010,000,000 (or, if less, all of such Lender's remaining rights and obligations hereunder); provided, however, that (i) the Company Company, the Accepting Lender, the Swing Line Lender and the Agents Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank Lender and the Assignee; (Bii) such Bank Lender and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E G ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank Lender or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company2,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Truserv Corp)

Assignments, Participations, etc. (a) Any Agent may, and with With the written consent --------------------------------- of the Agents, Company (at all times other than during the existence of an Event of Default) and the Agent [and the Issuing Bank,] which consents shall not be unreasonably withheld, any other BankBank may, may at any time time, assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company, the Agent or the Issuing Bank shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is a Bank or an Affiliate of such a Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, -------- the Commitments Commitments, the L/C Obligations and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,0005,000,000 and so long as, after giving effect thereto, the Bank's remaining Commitment is either (i) equal to or greater than $5,000,000 or (ii) zero; provided, however, that (i) the Company and -------- ------- the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (AX) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (BY) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E F ("Assignment and Acceptance") together with any Note or --------- ------------------------- Notes subject to such assignment and (CZ) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,000. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, (and provided that it consents to such assignment in accordance with Section 11.08(a)), the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto.. --- ----- (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating ----------- interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this -------- ------- Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company Company, the Issuing Bank and the Agents Agent shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any consent or waiver with respect to, this 01. In the case of any such participation, the ----- ------- Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 4.01, or any of the other Loan Documents4.03 and 11.05 as though it also were a Bank hereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14(S)203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Cb Richard Ellis Services Inc)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the prior written consent of the AgentsCompany at all times (other than during the existence of an Event of Default) and the U.S. Agent, which consents consent of the U.S. Agent shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company or the U.S. Agent shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitment and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of $5,000,000U.S.$5,000,000 (or the Dollar Equivalent thereof) for each such assignment; provided, however, that (i) the Company and the Agents U.S. Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative U.S. Agent by such Bank Lender and the Assignee; (Bii) such Bank Lender and its Assignee shall have delivered to the Company and the Administrative U.S. Agent an Assignment and Acceptance in the form of Exhibit E N ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank Lender or Assignee has paid to each the Administrative U.S. Agent a processing fee in the amount of its U.S. $[______________]; and (ii) if 2,500, provided that in the case of a transfer under Section 3.09, the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank Lender shall not assign all of its interest in the 76 128 Loans and the Commitments be obligated to an Assignee unless pay such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Companyprocessing fee. (b) From and after the date that the Administrative U.S. Agent notifies the Company and the assignor Bank Lender that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance which has been consented to by the U.S. Agent and by the Company (if required), and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Banking Days after its receipt of notice by the Administrative U.S. Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, (and provided that the U.S. Agent and the Company consents to such assignment in accordance with subsection 11.08(a)), each Bid Borrower shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment U.S. Agent a Bid Loan Note for the Assignee (if the Assignee was not previously a Lender under this Agreement) and, if the assignor Bank has retained a portion of Lender is not retaining any interest in this Agreement such assignor Lender shall promptly cancel and return its Loans and its Commitment, replacement Notes in Bid Loan Note to the principal amount of U.S. Agent for return to the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank)Company. Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank Lender pro tanto. (d) Any Bank may Lender may, with the prior written consent of the Company at any time all times (other than during the existence of an Event of Default), sell to one or more commercial banks or other Persons not Affiliates of the Company Eligible Assignees (a "Participant") participating interests in any Loans, the Commitment of that Bank Lender and the other interests of that Bank Lender (the "originating BankLender") hereunder and under the other Loan Documents; provided, however, that (i) the originating BankLender's obligations under this Agreement shall remain unchanged, (ii) the originating Bank Lender shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents U.S. Agent shall continue to deal solely and directly with the originating Bank Lender in connection with the originating BankLender's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank Lender shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to 01, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Lenders as described in the first proviso to Section 11.01 and (v) with respect to the sale of participating interests in any Bid Loan to any Participant, (x) the Company's consent shall not be required and (y) the term "Eligible Assignee" shall be deemed to include any financial institution or other Person organized under the laws of the United States having a combined capital and surplus of at least U.S.$50,000,000. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company (or any other Borrower) hereunder shall be determined as if such Bank Lenders had not sold such participation; except that. (e) Each Lender agrees to take normal and reasonable precautions and exercise due care to maintain the confidentiality of all information identified as "confidential" or "secret" by the Company and provided to it by the Company or any Subsidiary, if amounts outstanding or by the U.S. Agent on such Company's or Subsidiary's behalf, under this Agreement are due or any other Loan Document, and unpaidneither it nor any of its Affiliates shall disseminate such information except on a "need to know" basis to employees of such Lender or Affiliate, as the case may be, and their respective representatives or use any such information other than in connection with or in enforcement of this Agreement and the other Loan Documents; except to the extent such information (i) was or becomes generally available to the public other than as a result of disclosure by the Lender, or shall (ii) was or becomes available on a non-confidential basis from a source other than the Company, provided that such source is not bound by a confidentiality agreement with the Company known (or which would have been declared known upon reasonable inquiry with such source) to the Lender; provided, however, that any Lender may disclose such information (A) at the request or pursuant to any requirement of any Governmental Authority to which the Lender is subject or in connection with an examination of such Lender by any such authority; (B) pursuant to subpoena or other court process (provided that such Lender shall have become due promptly notify the Company of any such subpoena or process, unless it is legally prohibited from doing so, and payable upon cooperate with the occurrence Company at the Company's expense in obtaining a suitable order protecting the confidentiality of an Event such information); (C) when required to do so in accordance with the provisions of Defaultany applicable Requirement of Law; (D) to the extent reasonably required in connection with any litigation or proceeding to which the U.S. Agent, each any Lender or their respective Affiliates may be party provided that such Lender will promptly notify the Company of any such disclosure and use reasonable efforts at the Company's expense to obtain a suitable order protecting the confidentiality of such information; (E) to the extent reasonably required in connection with the exercise of any remedy hereunder or under any other Loan Document; (F) to such Lender's independent auditors and other professional advisors; and (G) to any Affiliate of such Lender, or to any Participant shall be deemed or Assignee, actual or (with the written consent of the Company) potential, provided that such Affiliate, Participant or Assignee agrees in writing to have the right of set-off in respect of its participating interest in amounts owing under this Agreement keep such information confidential to the same extent as if required of the amount of its participating interest were owing directly to it as a Bank under this AgreementLenders hereunder. (ef) Notwithstanding any other provision in this Agreement, any Bank Lender may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the any Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law. If requested by any such Lender for purposes of this subsection 11.08(f), the Company (or any other Borrower) shall execute and deliver to such Lender a promissory note evidencing such Lender's Committed Loans, which promissory note shall be in a form reasonably satisfactory to the U.S. Agent and the Company.

Appears in 1 contract

Samples: Multicurrency Credit Agreement (Alberto Culver Co)

Assignments, Participations, etc. (a) Any Agent Subject to Section 10.13(b) below, any Lender may, and with the written prior consent of the Agents, Borrower (which consents consent shall not be unreasonably withheldwithheld or delayed or conditioned, however, it will not be considered unreasonable for the Borrower to withhold consent if any other Banksuch assignment could have the effect of increasing the Borrower’s or any Guarantor’s costs under the Financing Documents, may due to new or increased Taxes, or otherwise), at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, all or any ratable part of all, of the Loans, the its Loan Commitments or Loans and the other rights and obligations of such Bank hereunderLender hereunder and under the other Financing Documents, in a minimum amount to another bank or financial institution. Any partial assignment of Loan Commitments or Loans under this Section 10.13(a) shall not be less than $10,000,000 or any integral multiple of $5,000,000; provided5,000,000 in excess thereof. (b) Notwithstanding Section 10.13(a) above, howeverany Lender may, that without the prior written consent of the Borrower, assign all or any part of its Loan Commitments or Loans and the other rights and obligations of such Lender hereunder and under the other Financing Documents (i) the Company and the Agents may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until Affiliate, (ii) to another Lender, (iii) to any Person if such proposed assignment follows the occurrence of an Event of Default, or (iv) if requested to do so by the Borrower under Section 2.13, provided that only with respect to assignments to an Affiliate of a Lender or another Lender (A) the assigning Lender shall have given at least ten (10) Business Days’ prior written notice to the Borrower, the Administrative Agent and the Security Agent of such proposed assignment, together with payment instructions, addresses and related information with respect to the Assigneeassignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank proposed assignment would not result in any increase in Taxes or increased cost to the Borrower, (C) any partial assignment of Loan Commitments or Loans under this Section 10.13(b) shall not be less than $10,000,000 or any integral multiple of $5,000,000 in excess thereof, and (D) each such assignment by a Lender of its Assignee Loans or its Loan Commitment shall be made in such a manner so that the same portion of its Loans and Loan Commitment is assigned to the assignee. With respect to any assignment under this Section 10.13, the Borrower, the Administrative Agent and the Security Agent may continue to deal solely and directly with the assigning Lender in connection with the interest so assigned until the assigning Lender shall have delivered to the Company Borrower, the Administrative Agent and the Administrative Security Agent an Assignment and Acceptance substantially in the form of Exhibit E C hereto ("an “Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with assignment from the consent of the Companyassigning Lender. (bc) From Subject to Section 8.10, from and after the date that the Administrative Agent notifies the assignor Bank assigning Lender and the Borrower that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing feeAcceptance, (i) the Assignee assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender hereunder and under the Loan other Financing Documents, and this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to effect the addition of the assignee, and any reference to the assigning Lender hereunder or under the other Financing Documents shall thereafter refer to such Lender and to the assignee to the extent of their respective interests, and (ii) the assignor Bank assigning Lender shall, to the extent that rights and obligations hereunder and under the other Loan Financing Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Financing Documents; provided that any Lender that assigns all of its Loan Documents. (c) Within five Business Days after its receipt Commitment and Loans hereunder in accordance with Section 10.13 shall continue to have the benefit of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver indemnification provisions under this Agreement to the Administrative Agentextent any indemnification relates to facts which occurred while it was a Lender (including Sections 2.8, new Notes evidencing 2.10, 2.11, 10.1 and 10.2), which shall survive as to such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tantoLender. (d) Any Bank may Lender (the “Originating Lender”) may, at its own cost, at any time after the initial Borrowing has occurred, sell to one or more commercial banks bank, financial institution, trust, fund or other Persons entity which is regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other financial assets which is not Affiliates an Affiliate of the Company Borrower, a Competitor or an Affiliate of a Competitor (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documentsits Loan; provided, however, that (i) the originating Bank's Originating Lender’s obligations under this Agreement shall remain unchanged, (ii) the originating Bank Originating Lender shall remain solely responsible for the performance of such obligations, (iii) the Company Borrower and the Agents Administrative Agent shall continue to deal solely and directly with the originating Bank Originating Lender in connection with the originating Bank's Originating Lender’s rights and obligations under this Agreement and the other Loan Financing Documents, (iv) any such sale of participating interest shall not result in any increase in Taxes or increased cost to the Borrower or Guarantors, and (ivv) no Bank Lender shall transfer or grant any participating interest under which the Participant has shall have rights to approve any amendment to 01, or any consent or waiver with respect to, this Agreement or any other Financing Document. In the case of any such participation, the Participant shall not have any rights or claims under this Agreement, Agreement or any of the other Loan Documents, Financing Documents (the Participant’s rights against the Originating Lender in respect of such participation to be those set forth in the agreement executed by the Originating Lender in favor of the Participant relating thereto) and all amounts payable by the Company Borrower hereunder shall be determined as if such Bank Lender had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision contained in this AgreementAgreement or any other Financing Document to the contrary, any Bank Lender may at any time create a pledge or assign as collateral security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note Loans held by it it, provided that (i) the pledge or assignment as collateral security, its enforcement and payment thereunder would not result in favor any increased costs or Taxes on the Borrower or the Guarantors, and (ii) any payment in respect of any Federal Reserve Bank such assigned Loans made by the Borrower to or for the account of the assigning or pledging Lender in accordance with Regulation A the terms of this Agreement shall satisfy the Borrower’s obligations hereunder in respect to such assigned Loan to the extent of such payment. No such assignment shall release the assigning Lender from its obligations hereunder. (f) If: (i) a Lender assigns or transfers any of its rights or obligations under the Financing Documents or changes its Applicable Lending Office; and (ii) as a result of circumstances existing at the date the assignment, transfer or change occurs, the Borrower would be obliged to make a payment to a permitted assignee or Lender acting through its new Applicable Lending Office under Section 2.8 or Section 2.10,then the permitted assignee or Lender acting through its new Applicable Lending Office is only entitled to receive payment under those Sections to the same extent as the assigning Lender or Lender acting through its previous Applicable Lending Office would have been if the assignment, transfer or change had not occurred. (g) The Borrower shall not assign or otherwise transfer any of its rights and obligations under this Agreement or any other Financing Document without the prior written consent of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable lawAdministrative Agent (acting on the instructions of all Lenders).

Appears in 1 contract

Samples: Credit Agreement (Nii Holdings Inc)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsCompany (provided no Default shall have occurred and be continuing), the Agent and each Issuing Bank, which consents in each case shall not be unreasonably withheldwithheld or delayed, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate each of such Bank) (each Eligible Assignees, an "Assignee") all, all or any ratable part of all, of the Loans, the Letter of Credit Obligations or the Commitments and the or any other rights and or obligations of such Bank hereunder, under this Agreement and the other Credit Documents in a minimum amount of Five Million Dollars ($5,000,000); provided, however, that (i) the Company Obligors and the Agents may Agent shall be entitled to continue to deal solely and directly with such Bank in connection with the interest interests so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; Assignee and (Bii) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance Assumption in the form of Exhibit E N (an "Assignment and AcceptanceAssumption") ), together with any Note or Notes subject to such assignment assignment; and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in of Three Thousand Five Hundred Dollars ($3,500) shall have been paid to the amount of its $[______________]; and (ii) if Agent by the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company.. 128 (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing feeAssumption, (i) the Assignee thereunder shall be a party hereto to this Agreement and, to the extent that rights and obligations hereunder under this Agreement and the other Credit Documents have been assigned to it pursuant to such Assignment and AcceptanceAssumption, shall have the rights and obligations of a Bank under the Loan Credit Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder under this Agreement and under the other Loan Credit Documents have been assigned by it pursuant to such Assignment and AcceptanceAssumption, relinquish its rights and be released from its obligations under the Loan Credit Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Willbros Group Inc)

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Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsBorrower's Designee and the Agent, (which consents in each case shall not be unreasonably withheld), any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments -------- Commitment and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) no written consent of the Company -------- ------- Borrower's Designee or the Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is another Bank or an Affiliate of such Bank; and (ii) except in connection with an assignment of all of a Bank's rights and obligations with respect to its Commitment and Loans any such assignment to an Eligible Assignee that is not a Bank hereunder shall be equal to or greater than $1,000,000 (Cdn.) or the U.S. Dollar Equivalent Amount thereof; and provided further, however, that the -------- ------- ------- Borrower's Designee and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) such Bank and its Assignee shall have delivered to the Borrower's Designee and the Agent an Assignment and Acceptance Agreement substantially in the form of Exhibit G (an "Assignment and --------- -------------- Acceptance"), together with any Note or Notes - subject to such ---------- assignment; (B) a written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, in substantially the form of the Notice of Assignment and Acceptance attached as Schedule 1 to the Assignment and Acceptance, shall have been given to the Company Borrower's Designee and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has shall have paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and 3,500 (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the CompanyCdn.). (b) From and after the date that the Administrative Agent notifies the assignor Bank that it the Agent has received (and and, if required, provided its consent and obtained with respect to and, if necessary, received the consent of the Documentation Agent) Borrower's Designee with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, (ii) this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom, and (iiiii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents.; provided, however that the -------- ------- assignor Bank shall not relinquish its rights under Article IV or under Sections 11.4 and 11.5 to the extent such rights relate to the time prior to the effective date of the Assignment and Acceptance. The Commitment allocated to each Assignee shall reduce the Commitment of the assigning Bank pro tanto. --------- (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received (and, if necessary, consented to) an executed Assignment and Acceptance and payment of the processing feefee (and provided that the Borrower's Designee consents to such assignment in accordance with subsection 11.8(a)), the Company Borrower's Designee shall execute and deliver to the Administrative Agent, Agent any new Notes requested by such Assignee evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in as requested by the principal amount of assignor Bank evidencing the Loans and Commitment retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank, if any). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrower (a "Participant") participating ----------- interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating -------- ------- Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company Borrower, the Borrower's Designee and the Agents Agent shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights toor 011. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 4.1 (but only if and for so long as it is an Eligible Assignee), or any of the other Loan Documents4.3 and 11.5 as though it were also a Bank hereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the any Note held by it in favor favour of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Revolving Credit Agreement (Johns Manville International Group Inc)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsCompany at all times other than during the existence of an Event of Default and the Agent, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company or the Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,00010,000,000; provided, however, that (i) the Company and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, and provided that the consent of the Company, if required pursuant to subsection 10.8(a), shall have been obtained, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, (and provided that it consents to such assignment in accordance with subsection 10.8(a), the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto.reflect (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents Agent shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Banks as described in the first proviso to Section 10. 011. In the case of any such participation, the Participant shall be entitled to the benefit of Sections 3.1, 3.3 and 10.5 as though it were also a Bank hereunder, and not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR CAR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Berkley W R Corp)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the AgentsAdministrative Agent and the Company (provided, however that no consent of the Company shall be required during the existence of an Event of Default), which consents consent shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written financial institutions and, with notice to the Administrative Agent, but without the consent of either Agent shall be required in connection with the Administrative Agent, may assign to any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) its Affiliates (each an "Assignee") all, all or any ratable part of all, of the Loans, Loans or the Commitments and the Commitment or any other rights and or obligations of such Bank hereunder, Lender hereunder in a minimum amount equal to the lesser of (i) such Lender's Commitment and (ii) $5,000,00010,000,000; provided, however, -------- ------- that (i) the Commitment of any Lender after giving effect to any assignment shall not be less than $10,000,000; provided, further, that the Company and the Agents -------- ------- Administrative Agent may continue to deal solely and directly with such Bank Lender in connection with the interest interests so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank Lender and the Assignee; Assignee and (Bii) such Bank Lender and its Assignee shall have delivered to the Company and the Administrative Agent an a Notice of Commitment Assignment and Acceptance substantially in the form of Exhibit E ("Notice of Assignment and Acceptance") together with any Note or Notes subject to such assignment ); --------- and (Ciii) the assignor Bank or Assignee has processing fees of $3,500 shall have been paid to each the Administrative Agent in connection with such assignment (including, but not limited to, an assignment by a processing fee in the amount Lender to another Lender or an Affiliate). Any Lender may at any time assign all or any portion of its $[______________]; and (ii) if rights under this Agreement to a Federal Reserve Bank. No such assignment shall release the assignor Bank or any of transferor Lender from its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Companyhereunder. (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender and the Assignee that it has received (and provided its consent and obtained the consent Notice of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing feeAcceptance, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Notice of Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, Documents and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Notice of Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments the Commitment of the assigning Bank Lender pro tanto.. --- ----- (dc) Any Bank Lender may at any time sell to one or more commercial banks lenders or other Persons not Affiliates of the Company entities (a "Participant") ), participating interests in any Loans, the Commitment of that Bank and the Lender or any other interests interest of that Bank (the "originating Bank") hereunder and under the other Loan DocumentsLender hereunder; provided, -------- however, that (i) the originating BankLender's obligations under this Agreement shall remain ------- unchanged, (ii) the originating Bank Lender shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents Administrative Agent shall continue to deal solely and directly with the originating Bank Lender in connection with the originating BankLender's rights and obligations under this Agreement and the other Loan DocumentsAgreement, and (iv) no Bank Lender shall transfer or grant any participating interest under which the Participant has shall have rights to approve any amendment to, or any consent or waiver with respect to this 011. In the case ----- ------- ------------ of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank Lender had not sold such participation; , except that, that if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Agreement. (ed) Notwithstanding any other provision in this Agreement, any Bank Any Lender may at any time create a security interest in, or pledge, all pledge its Note or any portion of other instrument evidencing its rights as a Lender under and interest in this Agreement and the Note held by it in favor of any to a Federal Reserve Bank in accordance with Regulation A of the FRB Bank, but no such pledge shall release that Lender from its obligations hereunder or U.S. Treasury Regulation 31 CFR Section203.14, and grant to such Federal Reserve Bank may enforce the rights of a Lender hereunder absent foreclosure of such pledge pledge. (e) Each Lender agrees (1) to maintain the confidentiality of all non-public "forward-looking" or security interest forecasting financial information provided to it by the Company or any Subsidiary of the Company or by the Administrative Agent on such Company's or Subsidiary's behalf in connection with this Agreement and not to distribute such information except to its employees on a "need to know basis", and (2) to take normal and reasonable precautions and exercise due care to maintain the confidentiality of all other non-public information provided to it by the Company or any Subsidiary of the Company or by the Administrative Agent on such Company's or Subsidiary's behalf in connection with this Agreement and neither it nor any of its Affiliates shall use any such information described in the foregoing clauses (1) or (2) for any purpose or in any manner permitted under other than pursuant to the terms contemplated by this Agreement, except to the extent such information described in the foregoing clauses (1) or (2) (i) was or becomes generally available to the public other than as a result of a disclosure by the Lender, or (ii) was or becomes available on a non-confidential basis from a source other than the Company, provided that such source is not bound by a confidentiality agreement with the Company known to the Lender; provided, -------- further, however, that any Lender may disclose such information (A) at the ------- request of any Lender regulatory authority or in connection with an examination of such Lender by any such authority; (B) pursuant to subpoena or other court process; (C) when required to do so in accordance with the provisions of any applicable law; (D) at the express direction of any other agency of any State of the United States of America or of any other jurisdiction in which such Lender conducts its business; and (E) to such Lender's independent auditors and other professional advisors who have agreed to keep such information confidential. Notwithstanding the foregoing, the Company authorizes each Lender to disclose to any Participant or Assignee (each, a "Transferee") and any prospective Transferee such financial and other information in such Lender's possession concerning the Company or its Subsidiaries which has been delivered to the Lenders pursuant to this Agreement or which has been delivered to the Lenders by the Company in connection with the Lenders' credit evaluation of the Company prior to entering into this Agreement; provided that such Transferee agrees in -------- writing to such Lender to keep such information confidential to the same extent required of the Lenders hereunder.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Oneok Inc /New/)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsCompany at all times other than during the existence of an Event of Default and the Agent and the Issuing Bank, which consents consent of the Company shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company, the Agent or the Issuing Bank shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitments, the L/C Obligations and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) the Company and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and assignment; (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; 4,000 and (iiiv) the Agent and, if applicable, the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank Company shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Companyhave consented thereto. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it and assumed by the Assignees pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, (and provided that it consents to such assignment in accordance with subsection 12.8(a)), the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Revolving Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each AssigneeFollowing receipt by the Agent of all consents to such assignment required hereby and of the Agent's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company Company, the Issuing Bank and the Agents Agent shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Banks as described in the first proviso to Section 12. 011. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement entitled to the same extent as if the amount benefit of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.Sections

Appears in 1 contract

Samples: Credit Agreement (Material Sciences Corp)

Assignments, Participations, etc. (a) Any Agent Bank may, with the written consent of the Agent and with the written consent of Xxxxxxxxx at all times other than during the Agentsexistence of an Event of Default, which consents consent of Xxxxxxxxx, if required, shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Xxxxxxxxx or the Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, provided that (i) the Company Companies and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Xxxxxxxxx and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company Xxxxxxxxx and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with 3,500. If the consent of the CompanyAgent and of Xxxxxxxxx shall be required for any such assignment, the Bank proposing to make such assignment shall give the Agent and Xxxxxxxxx no less than 20 calendar days notice of such requested consent. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing feefee and requesting new Notes (and provided that it consents to such assignment in accordance with Section 11.08(a)), the Company Companies shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may may, with the written consent of Xxxxxxxxx at all times other than during the existence of an Event of Default, which consent of Xxxxxxxxx, if required, shall not be unreasonably withheld, at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Companies (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, provided that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company Companies and the Agents Agent shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to 01, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Banks as pursuant to subsections (a), (b) or (c) of the first proviso to Section 11.01, in which event such Participant shall (if agreed by the originating Bank) be entitled to vote with respect to such amendment, consent or waiver. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 4.01, or any of the other Loan Documents4.03 and 11.05 as though it were also a Bank hereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. If the consent of the Xxxxxxxxx shall be required for any such participation, the Bank proposing to make such participation shall give the Agent and Xxxxxxxxx no less than 20 calendar days notice of such requested consent. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14§203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Esterline Technologies Corp)

Assignments, Participations, etc. (a) Any Agent Lender may, with no less than fifteen (15) days prior written notice (acknowledged in the manner provided in Section 9.13(b)) to the Administrative Agent (i) in the case of any Lender other than MTI, so long as there is no Default or Event of Default that has occurred and is continuing, in consultation with the written Borrowers and (ii) in the case of MTI, without the consent of either Borrower and the Agentsother Secured Parties, which consents shall not be unreasonably withheldassign (each, any other Bank, may at any time assign and delegate an “assignment”) to one or more Eligible Assignees commercial banks or other financial institutions and, in the case of MTI, to any entity or institution (whether public or private) established or appointed by the Norwegian authorities for the purpose of the continuation of the Norwegian export finance arrangements (provided that no written consent of either Agent such consultation with the Borrowers shall be required in connection with any assignment and delegation by a Bank Lender (other than MTI) to an Eligible Assignee that a commercial bank or other financial institution which is an Affiliate of such BankLender or to another Lender) or to another Person (each each, an "Assignee") all, all or any ratable part of all, of the Loans, the Commitments any Loan and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000Lender hereunder and under the other Financing Documents; provided, however, that: (A) each such assignment by a Lender of its Loans or its Commitments shall be made in such a manner so that (ix) the Company same portion of such Lender’s (and of such Lender’s Affiliate’s) Amaralina Star Term Loans and Laguna Star Term Loans or Amaralina Star Term Loan Commitments and Laguna Star Term Loan Commitments, as the case may be, is assigned to the Assignee, (y) in the case of the assignment by any Lender of a portion of such Lender’s (and of such Lender’s Affiliate’s) Loans or Commitments, such Lender may elect to retain or to assign to the relevant Assignee (or any Affiliates of such Assignee) the corresponding portion of its rights and obligations under the Required Hedging Agreement to which such Lender (or any Affiliate of such Lender) is a party and (z) in the case of the assignment by any Lender of all of such Lender’s (and of such Lender’s Affiliate’s) Loans or Commitments, such Lender shall assign all of its rights and obligation under the Required Hedging Agreement to which it is a party to the relevant Assignee(s) (or to any Affiliate of such Assignee(s)) or to any other Lender (or any Affiliates of any Lender) as determined by such Lender in its sole discretion; (B) in the case of an assignment of any part of a Loan to any Assignee by a Lender other than MTI, such assignment shall not be for an amount less than five million Dollars ($5,000,000) (or a higher integral multiple of $1,000,000 in excess thereof) in each instance; provided that, in the event that either Borrower objects on reasonable grounds (and providing written justification for such objection) to a proposed assignee in respect of an assignment by any Lender (other than MTI) within fifteen (15) days from the date a notice of assignment has been given to such Borrower under this Section 9.13(a) and provided there is no Default or Event of Default that has occurred and is continuing, the assigning Lender shall consider in good faith such objection for a period not longer than seven (7) days and if the relevant Borrower identifies in its written justification for its objection referred to above an alternative bank or other financial institution assignee willing and able to enter into such assignment on terms which are, in the relevant Lender’s opinion, no less favorable than those proposed by the assignee proposed by the Lender, the Lender shall not unreasonably withhold its agreement to assign instead to such bank or other financial institution identified by the relevant Borrower; and (C) the Borrowers and the Agents may continue to deal solely and directly with such Bank the assigning Lender in connection with the interest so assigned to an Assignee until (A1) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrowers and the Administrative Agent by such Bank assigning Lender and the Assignee; , (B2) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form case of Exhibit E ("Assignment and Acceptance") together with an assignment of any Note or Notes subject part of a Loan to such assignment and (C) any Assignee by a Lender other than MTI, the assignor Bank assigning Lender or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; 3,500, and (ii3) if the assignor Bank or any of its Affiliates is a Swap Provider with respect assigning Lender shall have delivered to any Specified Swap Contract, such Bank shall not assign all of its interest the Borrowers and the Administrative Agent an Assignment and Acceptance substantially in the 76 128 Loans form of Exhibit F hereto (an “Assignment and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate Acceptance”) with respect to such Specified Swap Contractsassignment from the assigning Lender. Notwithstanding anything to the contrary contained herein, in connection with any assignment by any Lender (other than MTI), neither Borrower shall be obligated to pay to any Lender any amount under Sections 2.9, 2.10, 2.11 and 2.12 that is greater than the consent amount that such Borrower would have been obligated to pay such Lender’s assignor if such assigning Lender had not assigned to such Lender any of its rights under this Agreement, unless at the time such assignment is made the circumstances giving rise to such greater payments did not exist. For the avoidance of doubt, without prejudice to the rights of the CompanyRequired Hedge Providers under the Required Hedging Agreements or any agreements entered into in connection therewith, neither Borrower shall be obligated to pay or reimburse any Lender or any Agent for any cost or fee arising out of or in connection with any assignment of the Loans or sale or participating interests in the Loans pursuant to this Section 9.13. The provisions of this Section 9.13 applicable solely to assignments of Loans or Commitments by MTI shall not apply to any subsequent assignments by any Assignee of MTI’s Loans or Commitments. (b) From Subject to Section 8.10, from and after the date that the Administrative Agent notifies the assignor Bank assigning Lender and the Borrowers that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, Acceptance shall have the rights and obligations of a Bank Lender hereunder and under the Loan other Financing Documents, and this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to effect the addition of the Assignee, and any reference to the assigning Lender hereunder or under the other Financing Documents shall thereafter refer to such Lender and to the Assignee to the extent of their respective interests, and (ii) the assignor Bank assigning Lender shall, to the extent that rights and obligations hereunder and under the other Loan Financing Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Financing Documents; provided that any Lender that assigns all of its Commitment and Loans hereunder in accordance with Section 9.13(a) shall continue to have the benefit of indemnification provisions under this Agreement (including Sections 2.11, 2.13, 2.14, 9.1 and 9.2), which shall survive as to such assigning Lender. (c) Within five Business Days Promptly after its receipt of notice by from the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, upon the Company request of the Assignee, each Borrower shall execute and deliver to the Administrative AgentAgent a new Note evidencing the Assignee’s assigned Commitment and Loans and, new Notes evidencing such Assignee's assigned Loans and Commitment andupon the request of the assigning Lender, if the assignor Bank assigning Lender has retained a portion of its Loans Loans, each Borrower shall execute and its Commitment, deliver to the Administrative Agent replacement Notes in reflecting the Commitment and the principal amount of the Loans retained by the assignor Bank assigning Lender (such Notes to be in exchange for, but not in payment of, the Notes Notes, if any, held by such BankLender). Immediately upon each Assignee's making its processing fee payment under the Assignment The Administrative Agent shall retain any new Notes and Acceptance, this Agreement shall be deemed replacement Notes received from either Borrower and deliver such Notes to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment assigning Lender (as applicable) only upon delivery of the Commitments arising therefrom. The Commitment allocated original Note related thereto to each Assignee shall reduce such Commitments of the assigning Bank pro tantorelevant Borrower for cancellation. (d) Any Bank Lender (the “originating Lender”) may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company either Borrower (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's Lender’s obligations under this Agreement shall remain unchanged, (ii) the originating Bank Lender shall remain solely responsible for the performance of such obligations, (iii) the Company Borrowers and the Agents shall continue to deal solely and directly with the originating Bank Lender in connection with the originating Bank's Lender’s rights and obligations under this Agreement and the other Loan Financing Documents, and (iv) no Bank Lender shall transfer or grant any participating interest under which the Participant has shall have rights to approve any amendment to 01, or any consent or waiver with respect to, this Agreement or any other Transaction Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Lenders as described in Section 9.12. In the case of any such participation, the Participant shall not have any rights under this Agreement, Agreement or any of the other Loan Documents, Financing Documents (the Participant’s rights against the originating Lender in respect of such participation to be those set forth in the agreement executed by the originating Lender in favor of the Participant relating thereto) and all amounts payable by the Company either Borrower hereunder shall be determined as if such Bank Lender had not sold such participation. Each Lender that sells a participation shall 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 the Financing Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Financing Document) to any Person except thatto the extent that such disclosure is necessary to establish that such commitment, if amounts outstanding loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement are due and unpaidnotwithstanding any notice to the contrary. For the avoidance of doubt, or the Administrative Agent (in its capacity as Administrative Agent) shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each no responsibility for maintaining a Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this AgreementRegister. (e) Notwithstanding any other provision contained in this AgreementAgreement or any other Transaction Document to the contrary, any Bank Lender may at any time create a security interest in, or pledge, assign all or any portion of its rights under and interest in this Agreement and the Note Loans held by it in favor of as collateral security to any United States Federal Reserve Bank, the European Central Bank (if such Lender is incorporated in the jurisdiction which is a member of the European Union) or any other federal reserve or central bank in the jurisdiction of such Lender, provided that any payment in respect of such assigned Loans or Notes made by either Borrower to or for the account of the assigning or pledging Lender in accordance with Regulation A the terms of this Agreement shall satisfy such Borrower’s obligations hereunder in respect of such assigned Loans to the extent of such payment. No such assignment shall release the assigning Lender from its obligations hereunder. (f) All or any portion of the FRB MTI Tranche Loans may be assigned or U.S. Treasury Regulation 31 CFR Section203.14transferred to GIEK in connection with any claim made under the GIEK Guarantee Policies. (g) Since it is in the interest of MTI to exercise its rights to assignment or transfer according to this Section 9.13, each Borrower hereby undertakes to contribute and to cooperate in such Federal Reserve Bank may enforce process as soon as the conditions for such pledge assignment or security interest transfer to the relevant entity or institution established or appointed by the Norwegian authorities are determined pursuant to the principles set out in any manner permitted under applicable lawPropositions to the Storting 34 S and 42 S (2011-2012) Export Financing.

Appears in 1 contract

Samples: Credit Agreement (QGOG Constellation S.A.)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the prior written consent of the AgentsCompany at all times other than during the existence of an Event of Default and the Agent and the Issuing Bank, which consents consent of the Company shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent the Company, the Agent, or the Issuing Bank shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitment, the L/C Obligations and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000 (or the remainder of its Loans, Commitment and L/C Obligations, if less than $5,000,000); provided, however, that (i) the Company and the Agents Agent may continue to deal solely and directly with such the assignor Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company4,000. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and that the Agent and the Issuing Bank have provided its consent and obtained the consent of the Documentation Agent) their consents with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments Commitment arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments Commitment of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company Company, the Issuing Bank, and the Agents Agent shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Banks as described in the first proviso to Section 11. 01. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 4.01, or any of the other Loan Documents4.03, and all amounts payable by the Company hereunder shall be determined 11.05 as if such though it were also a Bank had not sold such participation; except thathereunder, and if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14S203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Optical Coating Laboratory Inc)

Assignments, Participations, etc. (a) Any Agent maySubject to first obtaining any prior approvals set forth in Section 11.11(b) and otherwise complying with this Section 11.11, and with the written consent of the Agents, which consents shall not be unreasonably withheld, any other Bank, each Financing Party may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, all or any ratable part of allany Loan, Commitment, Specified Letter of the LoansCredit, the Commitments TALC Percentage or TALC Participating Amount and the other rights and obligations of such Lender or Issuing Bank hereunder, in a minimum amount of $5,000,000hereunder and under the other Financing Documents; provided, however, that (iA) each such assignment by a Lender of Construction Loans, Construction Notes, and Construction Loan Commitments shall only be assigned contemporaneously with a corresponding portion of Term Loan Commitments; (B) in the case of an assignment of any part of a Loan or Commitment to any Eligible Assignee, such assignment shall not be for an amount less than (x) $1,000,000 in respect of any Eligible Assignee that is a Financing Party prior to giving effect to such assignment or (y) $5,000,000 in respect of any Eligible Assignee that is not a Financing Party prior to giving effect to such assignment, (or a higher integral multiple of 1,000,000 in excess thereof) in each instance; and (C) the Company Borrower and the Agents Administrative Agent may continue to deal solely and directly with such the assigning Lender or Issuing Bank in connection with the interest so assigned to an Assignee until (A1) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Eligible Assignee, shall have been given to the Company Borrower and the Administrative Agent by such assigning Lender or Issuing Bank and the Eligible Assignee; , (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C2) the assignor assigning Lender, Issuing Bank or Eligible Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; 3,500 and (ii3) if the assignor Bank assigning Lender or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Issuing Bank shall not assign all of its interest have delivered to the Borrower and the Administrative Agent an Assignment and Acceptance substantially in the 76 128 Loans form of Exhibit 13 hereto (an “Assignment and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate Acceptance”) with respect to such Specified Swap Contractsassignment from the assigning Lender or Issuing Bank; provided, with further, that, if the consent Eligible Assignee is an Affiliated Lender, then (A) such Affiliated Lender (whether as a direct purchaser of the CompanyLoans or as the ultimate purchaser of the Loans through a broker or other intermediary) shall ensure that its identity as an Affiliate of the Borrower is known to the assigning Lender and the Administrative Agent and (B) at the time of such assignment and after giving effect thereto, no Default or Event of Default shall have occurred and be continuing. (b) From Prior to making any assignment of Loan, Commitment, Specified Letter of Credit, TALC Percentage or TALC Participating Amount hereunder, the assigning Lender or Issuing Bank (or the Borrower if the Borrower is proceeding in accordance with Section 3.26) shall obtain the written consent of (i) the Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed), (ii) except upon the occurrence and continuance of a Default or Event of Default, the Borrower (such consent not to be unreasonably withheld, conditioned or delayed) and (iii) if constituting an assignment of a TALC Percentage or a TALC Participating Amount, the TALC Issuing Bank (which consent may be granted or withheld in the TALC Issuing Bank’s sole discretion); provided, that no written consent of the Administrative Agent or Borrower shall be required in connection with any such assignment by a Lender to (i) an Eligible Assignee that is an Affiliate of such Lender or (ii) to another Lender that is an Eligible Assignee. (c) Subject to Section 10.10, from and after the date that the Administrative Agent notifies the assignor Bank assigning Lender and the Borrower that it has received (and and, where required in accordance with Section 11.11(a), provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced above‑referenced processing fee, (i) the Eligible Assignee thereunder under such Assignment and Acceptance shall be a party hereto and, to the extent that rights and obligations hereunder and under the other Financing Documents have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender hereunder and under the Loan other Financing Documents, and this Credit Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to effect the addition of the Eligible Assignee, and any reference to the assigning Lender hereunder or under the other Financing Documents shall thereafter refer to such Lender and to the Eligible Assignee to the extent of their respective interests and (ii) the assignor Bank assigning Lender shall, to the extent that rights and obligations hereunder and under the other Loan Financing Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations hereunder and under the Loan other Financing Documents; provided, that any Lender that assigns all of its Commitments and Loans hereunder in accordance with Section 11.11(a) shall continue to have the benefit of any indemnification provisions under this Credit Agreement (including Sections 3.10, 3.24, 11.1 and 11.2) and under the other Financing Documents (to the extent having arisen prior to such assignment), which shall survive such assignment as to such assigning Lender. At the time of each assignment pursuant to Section 11.11(a) to a Person which is not already a Lender hereunder, the relevant Eligible Assignee shall provide to the Borrower and the Administrative Agent the appropriate Internal Revenue Service Forms (and, if applicable, an Applicable Tax Certificate) described in Section 3.24(b) to the extent such forms would provide a complete exemption from or reduction in United States withholding tax. To the extent that an assignment of all or any portion of a Lender’s Commitments and related outstanding Obligations pursuant to this Section 11.11 would, at the time of such assignment, result in increased costs under Section 3.24 from those being charged by the respective assigning Lender prior to such assignment, then the Borrower shall not be obligated to pay such increased costs (although the Borrower, in accordance with and pursuant to the other provisions of this Credit Agreement, shall be obligated to pay any other increased costs of the type described above resulting from changes after the date of the respective assignment). (cd) Within five Business Days Promptly after its receipt of the Borrower receives notice by from the Administrative Agent that it the Administrative Agent has received an executed Assignment and Acceptance and payment of the above-referenced processing fee, upon the Company request of the Eligible Assignee, the Borrower shall execute and deliver to the Administrative Agent, Agent new Notes evidencing such the Eligible Assignee's ’s assigned Commitments and Loans and Commitment and, upon the request of the assigning Lender, if the assignor Bank assigning Lender has retained a portion of its Loans Loans, the Borrower shall execute and its Commitment, deliver to the Administrative Agent replacement Notes in reflecting the principal amount of the Commitments and Loans retained by the assignor Bank assigning Lender (such Notes to be in exchange for, but not in payment of, the Notes Notes, if any, held by such BankLender). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (de) Any Bank Lender (the “Originating Lender”) may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrower (a "Participant"“Participating Bank”) participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's Originating Lender’s obligations under this Credit Agreement shall remain unchanged, (ii) the originating Bank Originating Lender shall remain solely responsible for the performance of such obligations, (iii) the Company Borrower and the Agents Administrative Agent shall continue to deal solely and directly with the originating Bank Originating Lender in connection with the originating Bank's Originating Lender’s rights and obligations under this Credit Agreement and the other Loan Documents, Financing Documents and (iv) no Bank Lender shall transfer or grant any participating interest under which the Participant has Participating Bank shall have rights to approve any amendment or modification to 01, or give any consent or waiver with respect to, this Credit Agreement or any other Transaction Document, except to the extent such amendment, modification, consent or waiver would require unanimous consent of the Lenders as described in Section 11.10. In the case of any such participation, the Participant Participating Bank shall not have any rights under this Agreement, Credit Agreement or any of the other Loan Documents, Financing Documents (the Participating Bank’s rights against the Originating Lender in respect of such Participation to be those set forth in the agreement executed by the Originating Lender in favor of the Participating Bank relating thereto) and all amounts payable by the Company Borrower hereunder shall be determined as if such Bank Lender had not sold such participation. (f) Notwithstanding any other provision contained in this Credit Agreement or any other Transaction Document to the contrary, any Lender may assign all or any portion of the Loans or Notes held by it as collateral security, including pledges in favor of any U.S. Federal Reserve bank or central bank having jurisdiction over such Lender; provided, that any payment in respect of such assigned Loans or Notes made by the Borrower to or for the account of the assigning or pledging Lender in accordance with the terms of this Credit Agreement shall satisfy the Borrower’s obligations hereunder in respect to such assigned Loans or Notes to the extent of such payment. No such assignment shall release the assigning Lender from its obligations hereunder. (g) Notwithstanding any other provision contained in this Credit Agreement or any other Transaction Document to the contrary, no Affiliated Lender shall have any right to (i) attend (including by telephone or electronic means) any meeting or discussions (or portion thereof) among the Administrative Agent or any Financing Party to which representatives of the Borrower Parties are not invited or (ii) receive any information or material prepared by the Administrative Agent or any other Financing Party or any communication by or among the Administrative Agent and one or more other Financing Parties or have access to Debt Domain or such other Electronic Platform used to distribute information to the other Financing Parties, except thatto the extent such information or materials have been made available to any Borrower Party or its representatives. (h) Each Affiliated Lender agrees that it (i) shall not disclose any information it receives in its capacity as a Lender to the Borrower Parties and (ii) shall not have any right to make or bring (or participate in, if amounts outstanding other than as a passive participant in or recipient of its pro rata benefits of) any claim, in its capacity as a Lender, against the Agents or any Financing Party with respect to any duties or obligations or alleged duties or obligations of such Agent or any other such Financing Party under the Financing Documents, except with respect to any claims that any such Agent or any other such Financing Party is treating such Affiliated Lender, in its capacity as a Lender, in a disproportionate manner relative to the other Financing Parties (other than as expressly provided herein or in any other Financing Document). (i) Notwithstanding anything in this Agreement are due and unpaidSection 11.11 or the definition of “Required Financing Parties” to the contrary, for purposes of determining whether the Required Financing Parties, all affected Financing Parties or all Financing Parties have (A) consented (or not consented) to any amendment, modification, waiver, consent or other action with respect to any of the terms of any Financing Document or any departure by any Financing Party therefrom, (B) otherwise acted on any matter related to any Financing Document, or shall have been declared (C) directed or shall have become due and payable upon required the occurrence of an Event of DefaultAdministrative Agent, the Collateral Agent or any Financing Party to undertake any action (or refrain from taking any action) with respect to or under any Financing Document, each Participant Affiliated Lender shall be deemed to have voted its interest as a Financing Party without its discretion in the right same proportion as the allocation of set-off in voting with respect to such matter by Financing Parties who are not Affiliated Lenders; provided, that no amendment, modification, waiver, consent or other action with respect to any Financing Document shall deprive any Affiliated Lender of its participating pro rata share of any payments to which such Affiliated Lender is entitled under the Financing Documents without such Affiliated Lender providing its consent; and in furtherance of the foregoing, (x) each Affiliated Lender agrees to execute and deliver to the Administrative Agent any instrument reasonably requested by the Administrative Agent to evidence the voting of its interest as a Lender in amounts owing accordance with the provisions of this Section 11.11 (provided, that if such Affiliated Lender fails to promptly execute such instrument such failure shall in no way prejudice any of the Administrative Agent’s rights under this Agreement paragraph) and (y) the Administrative Agent is hereby appointed (such appointment being coupled with an interest) by such Affiliated Lender as such Affiliated Lender’s attorney-in-fact, with full authority in the place and stead of such Affiliated Lender and in the name of such Affiliated Lender from time to time in the same extent as if Administrative Agent’s discretion to take any action and to execute any instrument that the amount Administrative Agent may deem reasonably necessary to carry out the provisions of its participating interest were owing directly to it as a Bank under this AgreementSection 11.11. (ej) Notwithstanding Each Affiliated Lender, solely in its capacity as a Lender, hereby agrees, and each Assignment and Acceptance shall provide a confirmation that, if any other provision Borrower Party or any of their assets shall be subject to any voluntary or involuntary proceeding commenced under the Bankruptcy Code (“Bankruptcy Proceedings”), (i) such Affiliated Lender shall not take any step or action in this Agreementsuch Bankruptcy Proceeding to object to, any Bank may at any time create a security interest inmaterially impede, or pledgematerially delay the exercise of any right or the taking of any action by the Administrative Agent (or the taking of any action by a third party that is supported by the Administrative Agent) in relation to such Affiliated Lender 's claim with respect to its Loans (an “Affiliated Lender Claim”) (including objecting to any debtor in possession financing, all use of cash collateral, grant of adequate protection, sale or disposition, compromise, or plan of reorganization) so long as such Affiliated Lender is treated in connection with such exercise or action on the same or better terms as the other Lenders and (ii) with respect to any portion matter requiring the vote of its rights under and interest in this Agreement and Financing Parties during the Note pendency of a Bankruptcy Proceeding (including voting on any plan of reorganization), the Loans held by it in favor of such Affiliated Lender (and any Federal Reserve Bank Affiliated Lender Claim with respect thereto) shall be deemed to be voted in accordance with Regulation A this Section 11.11(j), so long as such Affiliated Lender is treated in connection with the exercise of such right or taking of such action on the same or better terms as the other Financing Parties. For the avoidance of doubt, each Affiliated Lender and the other Financing Parties agree and acknowledge that the provisions set forth in this Section 11.11(j), and the related provisions set forth in the Assignment and Acceptance, constitute a “subordination agreement” as such term is contemplated by, and utilized in, Section 510(a) of the FRB or U.S. Treasury Regulation 31 CFR Section203.14Bankruptcy Code, and such Federal Reserve Bank may enforce such pledge or security interest and, as such, would be enforceable for all purposes in any manner permitted case where a Borrower Party has filed for protection under applicable lawthe Bankruptcy Code.

Appears in 1 contract

Samples: Credit Agreement (NRG Yield, Inc.)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the prior written consent of the AgentsBorrower and the Administrative Agent, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent the Borrower shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender) (each an "Assignee") all, all or any ratable part of all, of the Loans, Loans and the Commitments and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of the lesser of $5,000,0001,000,000 (or such lesser amount as may be agreed to by the Borrower and the Administrative Agent in their sole and absolute discretion) and the full remaining amount of such Lender's Loans or Commitments (except that no such minimum shall be applicable on an assignment to a Lender or an Affiliate of a Lender); provided, however, that (i) the Company Borrower and the Agents Administrative Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Eligible Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Eligible Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank Lender and the Eligible Assignee; (Bii) such Bank Lender and its Eligible Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance substantially in the form of Exhibit E H ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank Lender or Eligible Assignee has paid to each the Administrative Agent a registration and processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,000. (b) From Upon the request of the Eligible Assignee, solely to facilitate the pledge or assignment of its Loans to any Federal Reserve Bank, the Borrower shall issue Notes to the Eligible Assignee. Upon the request of the assignor Lender, if applicable, solely to facilitate the pledge or assignment of its Loans to any Federal Reserve Bank, the Borrower shall issue a reduced Note to such assignor in exchange and after replacement for its then existing Note. (c) The Administrative Agent, on behalf of the date that Borrower, shall maintain at the address of the Administrative Agent notifies specified on Schedule 11.2 (or at such other address as may be designated by the assignor Bank that it has received (and provided its consent and obtained the consent Administrative Agent from time to time in accordance with Section 11.2) a copy of the Documentation Agent) with respect to) an executed each Assignment and Acceptance delivered to it and payment a register (the "Register") for the recordation of the above-referenced names and addresses of the Lenders and the Commitment of and principal amount of the Loans owing to each Lender from time to time. The entries in the Register shall be conclusive, in the absence of manifest error, and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register as the owner of a Loan or other obligation hereunder as the owner thereof for all purposes of this Agreement and the other Loan Documents, notwithstanding any notice to the contrary. Any assignment of any Loan or other obligation hereunder shall be effective only upon appropriate entries with respect thereto being made in the Register. The Register shall be available for inspection by the Borrower or any Lender at any reasonable time and from time to time upon reasonable prior notice. (d) Upon its receipt of an Assignment and Acceptance executed by an assigning Lender and an Eligible Assignee (and consented to by the Administrative Agent and, in the case of an Eligible Assignee that is not an Affiliate of the assigning Lender, by the Borrower (in each case such consent not to be unreasonably withheld)) together with payment to the Administrative Agent of the registration and processing feefee described in clause (a)(iii), the Administrative Agent shall record the information contained therein in the Register and give notice of such acceptance and recordation to the Lenders and the Borrower. Immediately upon the recordation of such information in the Register, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom, and (i) the Eligible Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, Documents and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank Lender pro tanto. (de) Any Bank Lender may at any time sell to one or more commercial banks Lenders or other Persons not Affiliates of the Company Borrower and which is also an Eligible Assignee (a "Participant") participating interests in any Loans, the Commitment of that Bank Lender and the other interests of that Bank Lender (the "originating BankOriginating Lender") hereunder and under the other Loan Documents; provided, however, that (i) the originating BankOriginating Lender's obligations under this Agreement shall remain unchanged, (ii) the originating Bank Originating Lender shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights toBorrower and 011. In the case of any such participation, the Participant shall be entitled to the benefit of Sections 4.1, 4.3 and 11.5 as though it were also a Lender hereunder, but shall not have be entitled to any rights under this Agreement, or any of greater amount than would be payable to the other Loan Documents, original Lender if no participation had been made and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Agreement. (ef) Subject to Section 11.9, the Borrower authorizes each Lender to disclose to any Eligible Assignee or Participant (each, a "Transferee") and any prospective Transferee any and all financial information in such Lender's possession concerning the Borrower and its Affiliates that has been delivered to such Lender by or on behalf of the Borrower in connection with such Lender's credit evaluation of the Borrower and its Affiliates prior to such Transferee or prospective Transferee becoming a party to this Agreement; provided, however, that neither the Administrative Agent nor any Lender shall provide to any Transferee or prospective Transferee any of the Confidential Information unless such person shall have previously executed a confidentiality agreement containing substantially similar terms to the terms specified in Section 11.9. (g) Notwithstanding any other provision in this Agreement, any Bank Lender may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14Section 203.14, or any successor thereto, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Liquidity Facility (Evenflo & Spalding Holdings Corp)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsCompany at all times other than during the existence of an Event of Default and the Agent, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable (in the case of Committed Loans) part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,00010,000,000; provided, however, that (i) the Company and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance substantially in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of $3,000. In connection with any assignment by the Swingline Bank, its $[______________]; Swingline Commitment may be in whole or in part included as part of the assignment transaction, and (ii) if the assignor Bank or any Assignment and Acceptance may be appropriately modified to include an assignment and delegation of its Affiliates is a Swap Provider with respect to Swingline Commitment and any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Companyoutstanding Swingline Loans. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under this Agreement and the Loan Documentsother documents or instruments given in connection herewith, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents such documents or instruments have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations hereunder and under the Loan Documentssuch other documents and instruments. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing feefee (and provided that it consents to such assignment if required under subsection 10.08(a)), the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, a replacement Notes Note in the form of Exhibit I in the principal amount of the Loans Commitment retained by the assignor Bank (such Notes Note to be in exchange for, but not in payment of, the Notes Note with respect to Committed Loans held by such Bank, which shall be returned to the Company concurrently with the delivery by the Company of the replacement Note). Immediately upon each Assignor's or Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments the Commitment of the assigning Bank pro tanto. (d) Any Bank or Designated Bidder may at any time sell to one or more commercial banks or other Persons not Affiliates affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank or Designated Bidder (the "originating BankOriginator") hereunder and under the other Loan Documentsdocuments and instruments given in connection herewith; provided, however, that (i) the originating BankOriginator's obligations under this Agreement shall remain unchanged, (ii) the originating Bank Originator shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents Agent shall continue to deal solely and directly with the originating Bank Originator in connection with the originating BankOriginator's rights and obligations under this Agreement and the other Loan Documentsdocuments and instruments given in connection herewith, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other document or instrument given in connection herewith, except to the extent such amendment, consent or waiver would require unanimous consent of the Banks as described in the first proviso to Section 10. 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documentsdocuments or instruments given in connection herewith, and all amounts payable by the Company hereunder shall be determined as if such Bank Originator had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank or Designated Bidder (as the case may be) under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank or Designated Bidder may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note Notes held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14Section 203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Louisiana Pacific Corp)

Assignments, Participations, etc. (a) Any Agent may, and with the written consent of the Agents, which consents shall not be unreasonably withheld, any other Bank, Each Lender may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of alla portion of, of the Loans, the Commitments and the other its rights and obligations under this Agreement (including any of such Bank hereunderits L/C Obligations (but only with the consent of the Administrative Agent and, so long as no Event of Default exists, the Borrower, which consent of the Borrower shall not be unreasonably withheld or delayed, and, in a minimum amount the case of $5,000,000an L/C Obligation, the applicable Letter of Credit Issuing Bank)); provided, however, that that: (i) no such consent by the Company Borrower shall be required at any time during which an Event of Default shall have occurred and been continuing hereunder; (ii) no such consent by the Agents may continue Borrower shall be required in respect of any assignment to deal solely (1) a Lender or (2) an Affiliate of a Lender, or (3) any fund that is managed by a Lender, by an Affiliate of a Lender, or by an entity or Affiliate of an entity that administers or manages a Lender (which such fund is or will be engaged in making, purchasing, holding or otherwise investing in commercial loans and directly with such Bank similar extensions of credit in connection with the interest so assigned to an Assignee until ordinary course of its business); (Aiii) written notice of such assignment, together with payment instructions, addresses and related information with respect except to the Assignee, shall have been given to extent the Company Borrower and the Administrative Agent by such Bank (and the applicable Letter of Credit Issuing Bank, in the case of a Letter of Credit) shall otherwise consent, any such partial assignment to an Eligible Assignee other than those listed in subparagraph (a)(ii) above shall be in an amount at least equal to $1,000,000; (iv) each such assignment by a Lender of its Maximum Credit Limit, Revolving Credit Loans and L/C Obligations shall be made in such manner so that the same portion of its Maximum Credit Limit, Revolving Credit Loans and L/C Obligations is assigned to the respective Eligible Assignee; and (Bv) upon each such Bank assignment, the assigning Xxxxxx and its Eligible Assignee shall have delivered deliver to the Company and Borrower, the Administrative Agent an and the Letter of Credit Issuing Banks a Notice of Uncommitted Facility Assignment and Acceptance in the form of Exhibit E ("Assignment G hereto, and Acceptance") together with any Note or Notes subject the assigning Lender shall pay a $3,500 recordation fee to such assignment the Administrative Agent. Upon execution and (C) delivery by the assignor Bank or assigning Lender and the Eligible Assignee has paid to each the Borrower, the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate Letter of Credit Issuing Banks of such AssigneeNotice of Uncommitted Facility Assignment, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contractsand upon consent thereto by the Borrower, with the consent of the Company. (b) From and after the date that the Administrative Agent notifies and the assignor Bank that it has received (and provided its consent and obtained Letter of Credit Issuing Banks to the consent of extent required above, the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Eligible Assignee thereunder shall be a party hereto to this Agreement and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and AcceptanceNotice of Uncommitted Facility Assignment, shall have the rights and obligations of a Bank Lender under this Agreement and the Loan Documents, and (ii) the assignor Bank assigning Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been of such interest assigned by it pursuant to such Assignment and AcceptanceNotice Uncommitted Facility Assignment, relinquish its rights and be released from its obligations under this Agreement (and, in the Loan Documentscase of an Uncommitted Facility Assignment covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto). The Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall maintain a copy of each Notice of Uncommitted Facility Assignment delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Maximum Credit Limit of, and principal amount (and stated interest) of the Revolving Credit Loans and L/C Obligations owing to, each Lender and Letter of Credit Issuing Bank pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Administrative Agent and the Lenders and Letter of Credit Issuing Banks shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender or Letter of Credit Issuing Bank, as applicable, hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Borrower and any Lender or Letter of Credit Issuing Bank, at any reasonable time and from time to time upon reasonable prior notice. (cb) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank A Lender may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrower (a "Participant") participating interests in any Loans, the Commitment of that Bank L/C Obligations and the any other interests of that Bank (the "originating Bank") such Lender hereunder and under the other Loan Credit Documents; : provided, however, that (i) the originating Bank's such Lender’s obligations under this Agreement shall remain unchanged, (ii) the originating Bank such Lender shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents Borrower shall continue to deal solely and directly with the originating Bank such Lender in connection with the originating Bank's such Lender’s rights and obligations under this Agreement and the other Loan Credit Documents, and (iv) no Bank such Lender shall not transfer or grant any participating interest under which the Participant has rights to approve any amendment to 01, or any consent or waiver with respect to, this Agreement or any other Credit Document, except to the extent such amendment, consent or waiver relates to the Face Amount of any Letters of Credit, the rate of interest to be charged with respect to any Revolving Credit Loan or L/C Obligations, any fees payable to a Lender under this Agreement or the extension of the Credit Facility Termination Date. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Credit Documents, and all amounts payable by the Company Borrower hereunder shall be determined as if such Bank the Lender had not sold such participation; except that, (1) if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-set off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Agreement, and (2) each Participant will be entitled to the benefits of Sections 4.01 and 4.02 of this Agreement with respect to its participation in the Maximum Credit Limit, the Revolving Credit Loans and the Letters of Credit outstanding from time to time as if it was a Lender; provided, however, that, in the case of Section 4.01 of this Agreement, such Participant shall have complied with the requirements of said Section (it being understood that the documentation required under Section 4.01(h) shall be delivered to the participating Lender); and provided further, however, that no Participant shall be entitled to receive any greater amount pursuant to any such Section than the transferring Lender would have been entitled to receive in respect of the amount of the participation transferred by such transferring Lender to such Participant except to the extent such entitlement to receive a greater payment results from a change in law that occurs after the Participant acquired the applicable participation. Each Lender that sells a participation hereunder shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, 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 Revolving Credit Loans, the Letters of Credit or other obligations under the Credit Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any Maximum Credit Limits, Letters of Credit or its other obligations under any Credit Document) to any Person except as set forth herein or to the extent that such disclosure is necessary to establish that such letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register. (ec) Notwithstanding any other provision in this Agreement, any Bank Lender may at any time assign, create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14203.14, or other central bank in accordance with applicable Requirements of Law and such Federal Reserve Bank or central bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Uncommitted Credit Agreement (Par Pacific Holdings, Inc.)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the Agents, Company (which consents consent shall not be unreasonably withheldrequired during the existence of an Event of Default), any other Bankthe Administrative Agent and each Issuing Lender, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company, the Administrative Agent or any Issuing Lender shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitments, the L/C Obligations and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of $5,000,0005,000,000 (or, if less, the amount of such Lender's Commitment); provided, however, that (i) the Company and the Agents Administrative Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank Lender and the Assignee; (Bii) such Bank Lender and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E D ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) such Lender or the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Lance Inc)

Assignments, Participations, etc. (a) Any Agent mayThe provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, and with except that Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee in accordance with the Agentsprovisions of Section 11.6(b), which consents shall not be unreasonably withheld(ii) by way of participation in accordance with the provisions of Section 11.6(d), or (iii) by way of pledge or assignment of a security interest subject to the restrictions of Section 11.6(f) (and any other Bankattempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in Section 11.6(d), and, to the extent expressly contemplated hereby, the Indemnified Parties) any legal or equitable right, remedy, or claim under or by reason of this Agreement. (b) Any Lender may at any time assign and delegate to one (1) or more Eligible Assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and Borrowings (including for purposes of this Section 11.6(b), participations in L/C Obligations) at the time owing to it); provided that no written consent that: (i) except in the case of either Agent shall be required an assignment of the entire remaining amount of the assigning Lender’s Commitment and Borrowings at the time owing to it or in connection with any the case of an assignment and delegation by to a Bank to an Eligible Assignee that is Lender or an Affiliate of a Lender with respect to a Lender, the aggregate amount of the Commitment (which for this purpose includes Borrowings outstanding thereunder) subject to each such Bank) assignment, determined as of the date the Assignment and Assumption with respect to such assignment is delivered to Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall be in an integral multiple of $1,000,000, but not less than $5,000,000, unless each of Administrative Agent and, so long as no Event of Default has occurred and is continuing, Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed); (ii) each partial assignment shall be made as an "Assignee") all, or any ratable assignment of a proportionate part of all, of all the Loans, the Commitments and the other assigning Lender’s rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) the Company and the Agents may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information under this Agreement with respect to the AssigneeCommitment and Borrowings assigned, except that this clause (ii) shall have been given not apply to the Company and the rights in respect of Swing Line Advances; (iii) any assignment of a Commitment must be approved by Administrative Agent by and each Issuing Bank unless the Person that is the proposed assignee is itself a Lender (whether or not the proposed assignee would otherwise qualify as an Eligible Assignee) each such Bank and the Assigneeconsent not be to unreasonably withheld or delayed; (Biv) after giving effect to such Bank assignment, unless the assigning Lender is assigning all of its rights and its Assignee Commitments hereunder, the assigning Lender shall have delivered retain a Commitment of at least $10,000,000 (or such lesser amount agreed to by Borrower and Administrative Agent), or if the Company Total Aggregate Commitment has been terminated, their Notes having outstanding principal balance of at least $10,000,000 (or such lesser amount agreed to by Borrower and Administrative Agent), except for each Lender which acts as Administrative Agent, Syndication Agent, and Documentation Agent, respectively, which each must retain a Commitment of not less than $15,000,000, or if the Total Aggregate Commitment has been terminated, their Notes having outstanding principal balance of at least $15,000,000, except if such Lenders resign as Administrative Agent, Syndication Agent, or Documentation Agent, as applicable; and (v) the parties to each assignment shall execute and deliver to Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") Assumption, together with any Note or Notes subject a processing and recordation fee of $3,500. Subject to such assignment acceptance and (C) the assignor Bank or Assignee has paid to each the recording thereof by Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect pursuant to any Specified Swap ContractSection 11.6(c), such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) From from and after the effective date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed specified in each Assignment and Acceptance and payment of Assumption, the above-referenced processing fee, (i) the Eligible Assignee thereunder shall be a party hereto to this Agreement and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and AcceptanceAssumption, shall have the rights and obligations of a Bank Lender under the Loan Documentsthis Agreement, and (ii) the assignor Bank assigning Lender thereunder shall, to the extent that rights and obligations hereunder and under of the other Loan Documents have been interest assigned by it pursuant to such Assignment and AcceptanceAssumption, relinquish its rights and be released from its obligations under this Agreement (and, in the Loan Documentscase of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 4.4, 4.6, 4.7, 11.2, and 11.12 with respect to facts and circumstances occurring prior to the effective date of such assignment). Upon request, Borrower (at its expense) shall execute and deliver Note(s) to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 11.6(b) shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 11.6(d). (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans acting solely for this purpose as an agent of Borrower, shall maintain at Administrative Agent’s Lending Office a copy of each Assignment and Commitment andAssumption delivered to it and a register for the recordation of the names and addresses of Lenders, if and the assignor Bank has retained a portion Commitments of, and principal amounts of its Loans and its Commitmentthe Borrowings owing to, replacement Notes each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement Register shall be deemed to be amended conclusive absent manifest error, and Borrower may treat each Person whose name is recorded in the Register pursuant to the extentterms hereof as a Lender hereunder for all purposes of this Agreement, but only notwithstanding notice to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefromcontrary. The Commitment allocated Register shall be available for inspection by Borrower and any Lender, at any reasonable time and from time to each Assignee shall reduce such Commitments of the assigning Bank pro tantotime upon reasonable prior notice. (d) Any Bank Lender may at any time sell participations to one any Eligible Assignee (each, a “Participant”) in all or more commercial banks a portion of such Lender’s rights and/or obligations under this Agreement (including all or other Persons not Affiliates a portion of its Commitment and/or the Company Borrowings (a "Participant"including such Lender’s participations in Swing Line Advances) participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documentsowing to it); provided, however, provided that (i) the originating Bank's such Lender’s obligations under this Agreement shall remain unchanged, (ii) the originating Bank such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, and (iii) the Company and the Agents Borrower shall continue to deal solely and directly with the originating Bank such Lender in connection with the originating Bank's such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and the other Loan Documentsto approve any amendment, and (iv) no Bank shall transfer modification, or grant any participating interest under which the Participant has rights to 01. In the case waiver of any such participation, the Participant shall not have any rights under provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver, or any of other modification described in the other Loan Documentsfirst proviso to Section 11.1 that directly affects such Participant. Subject to Section 11.6(e), and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, Borrower agrees that each Participant shall be deemed entitled to have the right benefits of set-off in respect of its participating interest in amounts owing under this Agreement Sections 4.4, 4.6, and 4.7 to the same extent as if the amount of it were a Lender and had acquired its participating interest were owing directly by assignment pursuant to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.Section 11.6

Appears in 1 contract

Samples: Revolving Credit Agreement (Standard Pacific Corp /De/)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsCompany at all times other than during the existence of an Event of Default and the Agent and the Issuing Bank, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company, the Agent or the Issuing Bank shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee"Assignee ) all, or any ratable part of all, of the Loans, the Commitments Commitments, the L/C Obligations and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) the Company and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B) such ii)_such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("( Assignment and Acceptance"Acceptance ) together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. 3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Bucyrus International Inc)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsCompany at all times other than during the existence of an Event of Default and the Agent, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company or the Agent shall be required in connection with any assignment and delegation by a Bank to another Bank or to an Eligible Assignee that is an Affiliate of such Bank) (each an "AssigneeASSIGNEE") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,00010,000,000 or, if less, the entire amount of such Bank's Commitment; providedPROVIDED, howeverHOWEVER, that (i) the Company and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E EXHIBIT I ("Assignment and AcceptanceASSIGNMENT AND ACCEPTANCE") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, (and provided that it consents to such assignment in accordance with SECTION 9.8(a)), the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "ParticipantPARTICIPANT") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating BankORIGINATOR") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to; 011. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of SECTIONS 3.1, or any of 3.3 and 9.5 as though it were also a Bank (as the other Loan Documentscase may be) hereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note Notes held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14CAR ss.203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (HCR Manor Care Inc)

Assignments, Participations, etc. (a) Any Agent may, and with the written consent of the Agents, which consents shall not be unreasonably withheld, any other Bank, Each Bank may at any time assign and delegate to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Loans, its Note, and its Commitment); provided that no written consent of either Agent that (i) each such assignment shall be required to an Eligible Assignee; (ii) except in connection with the case of an assignment to another Bank or an assignment of all of a Bank's rights and obligations under this Agreement, any such partial assignment and delegation shall be in an amount at least equal to $5,000,000 or an integral multiple of $1,000,000 in excess thereof; (iii) each such assignment by a Bank to an Eligible Assignee that is an Affiliate shall be of such Bank) (each an "Assignee") alla constant, or any ratable part and not varying, percentage of all, all of the Loans, the Commitments and the other its rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000under this Agreement and the Note; provided, however, that and (iiv) the Company parties to such assignment shall execute and the Agents may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect deliver to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and for its Assignee shall have delivered to the Company and the Administrative Agent acceptance an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") hereto, together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; 3,500. Upon execution, delivery, and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate acceptance of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of Acceptance, the above-referenced processing fee, (i) the Assignee assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to of such Assignment and Acceptanceassignment, shall have the rights obligations, rights, and obligations benefits of a Bank under hereunder and the Loan Documents, and (ii) the assignor assigning Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to of such Assignment and Acceptanceassignment, relinquish its rights and be released from its obligations under this Agreement. Upon the Loan Documentsconsummation of any assignment pursuant to this Section, the assignor, the Agent and the Company shall make appropriate arrangements so that if required, new Notes are issued to the assignor and the assignee. If the assignee is not incorporated under the laws of the United States of America or a state thereof, it shall deliver to the Company and the Agent certification as to exemption from deduction or withholding of Taxes in accordance with Section 10.10. (b) The Agent shall maintain at its address referred to in Section 11.02 a copy of each Assignment and Acceptance delivered to and accepted by it and a register for the recordation of the names and addresses of the Banks and the Commitment of, and principal amount of the Loans owing to, each Bank from time to time (the "Register"). The entries in the Register shall be conclusive and binding for all purposes, absent manifest error, and the Company, the Agent and the Banks may treat each Person whose name is recorded in the Register as a Bank hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Company or any Bank at any reasonable time and from time to time upon reasonable prior notice. (c) Within five Business Days after Upon its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance executed by the parties thereto, together with any Note subject to such assignment and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment andAgent shall, if such Assignment and Acceptance has been completed and is in substantially the assignor Bank has retained a portion form of its Loans and its CommitmentExhibit E hereto, replacement Notes in the principal amount of the Loans retained by the assignor Bank (i) accept such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended (ii) record the information contained therein in the Register and (iii) give prompt notice thereof to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tantoparties thereto. (d) Any Each Bank may at any time sell participations to one or more commercial banks Persons in all or other Persons not Affiliates a portion of the Company its rights and obligations under this Agreement (including all or a "Participant") participating interests in any portion of its Commitment and its Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents); provided, however, provided that (i) the originating such Bank's obligations under this Agreement shall remain unchanged, (ii) the originating such Bank shall remain solely responsible to the other parties hereto for the performance of such obligations, (iii) the Company participant shall be entitled to the benefit of the yield protection provisions contained in Article IV and the Agents right of set-off contained in Section 11.10, and (iv) the Company shall continue to deal solely and directly with the originating such Bank in connection with the originating such Bank's rights and obligations under this Agreement and the other Loan DocumentsAgreement, and (iv) no such Bank shall transfer retain the sole right to enforce the obligations of the Company relating to its Loans and its Note and to approve any amendment, modification, or grant any participating interest under which the Participant has rights to 01. In the case waiver of any such participationprovision of this Agreement (other than amendments, the Participant shall not have any rights under this Agreementmodifications, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if waivers decreasing the amount of principal of or the rate at which interest is payable on such Loans or Note, extending any scheduled principal payment date or date fixed for the payment of interest on such Loans or Note, or extending its participating interest were owing directly to it as a Bank under this AgreementCommitment). (e) Notwithstanding any other provision set forth in this Agreement, any Bank may at any time create a security interest in, or pledge, assign and pledge all or any portion of its rights under Loans and interest in this Agreement and the its Note held by it in favor of to any Federal Reserve Bank in accordance with as collateral security pursuant to Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and any Operating Circular issued by such Federal Reserve Bank. No such assignment shall release the assigning Bank from its obligations hereunder. (f) Any Bank may enforce furnish any information concerning the Company or any of its Subsidiaries in the possession of such pledge or security interest in any manner permitted under applicable lawBank from time to time to assignees and participants (including prospective assignees and participants), subject, however, to the provisions of Section 11.09.

Appears in 1 contract

Samples: Credit Agreement (Gymboree Corp)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsCompany and the Agent, the Issuing Bank and the Swingline Bank (which consents in each case shall not be unreasonably withheld), any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitment, the L/C Obligations and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) no written consent of the Company shall be required during the existence of a Default or an Event of Default; (ii) no written consent of the Company or the Agent, the Issuing Bank or the Swingline Bank shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is another Bank or an Affiliate of such Bank; and (iii) except in connection with an assignment of all of a Bank's rights and obligations with respect to its Commitment, Loans and L/C Obligations, any such assignment to an Eligible Assignee that is not a Bank hereunder shall be equal to or greater than $5,000,000; and (iv) no such partial assignment need be of a ratable part of the Loans, the Commitment and the other interests, rights and obligations hereunder of such assigning Bank; and provided further, however, that the Company and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) such Bank and its Assignee shall have delivered to the Company and the Agent an Assignment and Acceptance Agreement substantially in the form of Exhibit E ("Assignment and Acceptance"), together with any Note or Notes subject to such assignment; (B) a written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, in substantially the form of the Notice of Assignment and Acceptance attached as Schedule 1 to the Assignment and Acceptance, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has shall have paid to each the Administrative Agent a processing fee in the amount of its $[______________]; 3,500 and (iiD) if the assignor Agent, the Company the Issuing Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, Swingline Bank each shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company.have provided any required (b) From and after the date that the Administrative Agent notifies the assignor Bank that it the Agent has received (and and, if required, provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment thereto and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the received any other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations consents required under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.Section 11

Appears in 1 contract

Samples: Credit Agreement (Precision Castparts Corp)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsBorrowers at all times other than during the existence of an Event of Default and the Agent, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Borrowers or the Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an a Bank Affiliate of such Bank or to another Bank) (each an "AssigneeASSIGNEE") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of the lesser of $5,000,0005,000,000 or such Bank's entire remaining interest in the Loans, the Commitments and the other rights and obligations hereunder; providedPROVIDED, howeverHOWEVER, that (i) the Company Borrowers and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrowers and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company Borrowers and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and AcceptanceASSIGNMENT AND ACCEPTANCE") together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company2500. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company Borrowers shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement Agreement, shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tantoPRO TANTO. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrowers (a "ParticipantPARTICIPANT") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; providedPROVIDED, howeverHOWEVER, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company Borrowers and the Agents Agent shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights tocontinue 01. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 3.01, or any of the other Loan Documents3.03 and 10.05 as though it were also a Bank hereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off setoff in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Each Bank agrees to take normal and reasonable precautions and exercise due care to maintain the confidentiality of all information identified as "confidential" by the Borrowers and provided to it by the Borrowers or any Subsidiary of the Borrowers, or by the Agent on such Borrower's or Subsidiary's behalf, in connection with this Agreement or any other Loan Document, and neither it nor any of its Affiliates shall use any such information for any purpose or in any manner other than pursuant to the terms contemplated by this Agreement; except to the extent such information (i) was or becomes generally available to the public other than as a result of a disclosure by the Bank, or (ii) was or becomes available on a nonconfidential basis from a source other than the Borrowers, provided that such source is not bound by a confidentiality agreement with the Borrowers known to the Bank; PROVIDED FURTHER, HOWEVER, that any Bank may disclose such information (A) at the request or pursuant to any requirement of any Governmental Authority to which the Bank is subject or in connection with an examination of such Bank by any such authority; (B) pursuant to subpoena or other court process; (C) when required to do so in accordance with the provisions of any applicable Requirement of Law; and (D) to such Bank's independent auditors and other professional advisors. Notwithstanding the foregoing, the Borrowers authorizes each Bank to disclose to any Participant or Assignee (each, a "TRANSFEREE") and to any prospective Transferee, such financial and other information in such Bank's possession concerning the Borrowers or its Subsidiaries which has been delivered to Agent or the Banks pursuant to this Agreement or which has been delivered to the Agent or the Banks by the Borrowers in connection with the Banks' credit evaluation of the Borrowers prior to entering into this Agreement; PROVIDED that, unless otherwise agreed by the Borrowers, such Transferee agrees in writing to such Bank to keep such information confidential to the same extent required of the Banks hereunder. The Borrowers acknowledge that from time to time financial advisory, investment banking and other services may be offered or provided to the Borrowers, or one or more of its Affiliates (in connection with this Agreement or otherwise) by any Bank or by one or more Subsidiaries or Affiliates of such Bank and the Borrowers hereby authorize each Bank to share any information delivered to such Bank by the Borrowers and their Affiliates pursuant to this Agreement, or in connection with the decision of such Bank to enter into this Agreement, to any such Subsidiary or Affiliate of such Bank, it being understood that any such Subsidiary or Affiliate of any Bank receiving such information shall be bound by any obligation of confidentiality as if it were a Bank hereunder. Such Authorization shall survive the repayment of the Loans and other Obligations and the termination of the Commitments. (f) Notwithstanding any other provision contained in this AgreementAgreement or any other Loan Document to the contrary, any Bank may at any time create a security interest in, or pledge, assign all or any portion of its rights under and interest in this Agreement and the Note Loans or Notes held by it in favor of to any Federal Reserve Bank in accordance with or the United States Treasury as collateral security pursuant to Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, Board of Governors of the Federal Reserve System and any Operating Circular issued by such Federal Reserve Bank, provided that any payment in respect of such assigned Loans or Notes made by the Borrowers to or for the account of the assigning or pledging Bank may enforce in accordance with the terms of this Agreement shall satisfy the Borrowers' obligations hereunder in respect to such pledge assigned Loans or security interest in any manner permitted under applicable lawNotes to the extent of such payment. No such assignment shall release the assigning Bank from its obligations hereunder.

Appears in 1 contract

Samples: Credit Agreement (Rio Hotel & Casino Inc)

Assignments, Participations, etc. (a) Any Agent may, and with the written consent of the Agents, which consents shall not be unreasonably withheld, any other Bank, Bank may at any time assign and delegate to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement (provided that no written consent including all or a portion of either Agent shall be required its Revolving Commitment, Letter of Credit Liabilities, and the Loans at the time owing to it); PROVIDED THAT (i) except in connection with any the case of an assignment of the entire remaining amount of the assigning Bank's Revolving Commitment, Letter of Credit Liabilities, and delegation by the Loans at the time owing to it or in the case of an assignment to a Bank to an Eligible Assignee that is or an Affiliate of a Bank or an Approved Fund with respect to a Bank, the amount of the Revolving Commitment (which for this purpose includes Loans and Letter of Credit Liabilities outstanding thereunder) subject to each such Bankassignment (determined as of the date the Assignment and Assumption Agreement, as hereinafter defined, with respect to such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000, unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Company otherwise consent (each such consent not to be unreasonably withheld or delayed), (ii) each partial assignment shall be made as an "Assignee") all, or any ratable assignment of a proportionate part of all, of all the assigning Bank's rights and obligations under this Agreement with respect to the Loans, the Commitments Letter of Credit Liabilities, and/or the Revolving Commitment assigned and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (iiii) the Company parties to each assignment shall execute and the Agents may continue deliver to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance agreement, substantially in the form of Exhibit E C hereto (an "Assignment and AcceptanceASSIGNMENT AND ASSUMPTION AGREEMENT") ), together with any Note or Notes subject a processing and recordation fee of $3,500, and the Eligible Assignee, if it shall not be a Bank, shall deliver to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in an Administrative Questionnaire. Subject to acceptance and recording thereof by the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect Administrative Agent pursuant to any Specified Swap ContractSection 2.02(a), such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) From from and after the effective date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed specified in each Assignment and Acceptance and payment of Assumption Agreement, the above-referenced processing fee, (i) the Eligible Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and AcceptanceAssumption Agreement, shall have the rights and obligations of a Bank under the Loan Documentsthis Agreement, and (ii) the assignor assigning Bank thereunder shall, to the extent that rights and obligations hereunder and under of the other Loan Documents have been interest assigned by it pursuant to such Assignment and AcceptanceAssumption Agreement, relinquish its rights and be released from its obligations under this Agreement (and, in the Loan Documents. (c) Within five Business Days after its receipt case of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Assumption Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments covering all of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and Agreement, such Bank shall cease to be a party hereto but shall continue to be entitled to the other Loan Documentsbenefits of Sections 3.01, 3.03, 10.04, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement10. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (General Mills Inc)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsCompany, the Agent and each Issuing Bank, which consents shall not be unreasonably withheldwithheld or delayed, any other Bank, may at any time assign and delegate to one or more Eligible Assignees or assign to any of its wholly owned Affiliates (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate each of such Bank) (each Eligible Assignees or Affiliates, an "Assignee") all, all or any ratable part of all, of the Loans, the Letter of Credit Obligations or the Commitments and the or any other rights and or obligations of such Bank hereunder, under this Agreement and the other Credit Documents in a minimum amount of Ten Million Dollars ($5,000,00010,000,000); provided, however, that (i) the Company Borrowers and the Agents may Agent shall be entitled to continue to deal solely and directly with such Bank in connection with the interest interests so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; Assignee and (Bii) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance Assumption in the form of Exhibit E O (an "Assignment and AcceptanceAssumption") ), together with any Note or Notes subject to such assignment assignment; and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in of Two Thousand Five Hundred Dollars ($2,500) shall have been paid to the amount of its $[______________]; and (ii) if Agent by the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing feeAssumption, (i) the Assignee thereunder shall be a party hereto to this Agreement and, to the extent that rights and obligations hereunder under this Agreement and the other Credit Documents have been assigned to it pursuant to such Assignment and AcceptanceAssumption, shall have the rights and obligations of a Bank under the Loan Credit Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder under this Agreement and under the other Loan Credit Documents have been assigned by it pursuant to such Assignment and AcceptanceAssumption, relinquish its rights and be released from its obligations under the Loan Credit Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Willbros Group Inc)

Assignments, Participations, etc. (a1) Any Agent may, and with With the prior written consent of the AgentsAdministrative Agent and, which but only if there has not occurred and is continuing an Event of Default or Potential Default, the Company, such consents shall not to be unreasonably withheld, any other Bank, Lender may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company or the Administrative Agent shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender) (each an "Assignee") all, all or any ratable part of allsuch Lender's Revolving Facility Commitment, of the Loans, the Commitments Term Loan A Commitment and/or Term Loan B Commitment and Loans and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of $5,000,0005,000,000.00 (or if such Lender's Revolving Credit Commitment, Term Loan A Commitment or Term Loan B Commitment is less than $5,000,000.00, one hundred percent (100%) thereof); provided, however, that (i) the Company and the Agents Administrative Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank Lender and the Assignee; (Bii) such Bank Lender and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment Agreement and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500.00. (b2) From and after the date that the Administrative Agent notifies the assignor Bank Lender that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, : (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned to it pursuant to such Assignment and AcceptanceAcceptance Agreement, shall have the rights and obligations of a Bank Lender under the Loan Documents, and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and AcceptanceAcceptance Agreement, relinquish its rights and be released from its obligations under the Loan Documents. (c3) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance Agreement, which notice shall also be sent by the Administrative Agent to each Lender, and payment of the processing fee, the Company shall shall, if requested by the Assignee, execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank)Loan funding commitment. Immediately upon each Assignee's making its processing fee payment under the Assignment and AcceptanceAcceptance Agreement, this Credit Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Percentage Shares resulting therefrom and the Administrative Agent shall deliver to the Company a revised Commitment allocated to each Assignee shall reduce Schedule reflecting such Commitments of the assigning Bank pro tantoadjustment. (d4) Any Bank Lender may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment funding commitment of that Bank Lender and the other interests of that Bank Lender (the "originating BankLender") hereunder and under the other Loan Documents; provided, however, that that (i) the originating BankLender's obligations under this Credit Agreement shall remain unchanged, (ii) the originating Bank Lender shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents Administrative Agent shall continue to deal solely and directly with the originating Bank Lender in connection with the originating BankLender's rights and obligations under this Credit Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Paragraphs 2(e), or any 2(f) and 2(g) (and subject to the burdens --------------- --- ---- of the other Loan DocumentsParagraphs 2(h) and 11(h) above) as though it were also a Lender --------------- ----- thereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Credit Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Credit Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Credit Agreement, and Paragraph 11(j) of this Credit --------------- Agreement shall apply to such Participant as if it were a Lender party hereto. (e5) Notwithstanding any other provision contained in this AgreementCredit Agreement or any other Loan Document to the contrary, any Bank Lender may at any time create a security interest in, or pledge, assign all or any portion of its rights under and interest in this Agreement and the Note Loans or Notes held by it in favor of to any Federal Reserve Bank in accordance with Lender or the United States Treasury as collateral security pursuant to Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, Board of Governors of the Federal Reserve System and any Operating Circular issued by such Federal Reserve Bank may enforce Lender, provided that any payment in respect of such pledge assigned Loans or security interest Notes made by the Company to or for the account of the assigning and/or pledging Lender in any manner permitted under applicable lawaccordance with the terms of this Credit Agreement shall satisfy the Company's obligations hereunder in respect to such assigned Loans or Notes to the extent of such payment. No such assignment shall release the assigning Lender from its obligations hereunder.

Appears in 1 contract

Samples: Credit Agreement (Dollar Financial Group Inc)

Assignments, Participations, etc. (a) Any Agent Prior to the occurrence of the Conversion Date with respect to both Tranche A Loans and Tranche B Loans, so long as no Event of Default has occurred and is continuing, each Lender agrees that it shall not be permitted to assign its interest in the Loans or its other rights and obligations hereunder and under the other Finance Documents. On or after the occurrence of such Conversion Dates (and at any time after the occurrence and during the continuance of an Event of Default), any Lender may, and with the written consent of the AgentsAdministrative Agent and, which consents shall unless an Event of Default has occurred and is continuing, the Borrowers, in each case not to be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (each, an “Assignee”) (provided that no written consent of either the Administrative Agent shall be required in connection with any assignment and delegation by a Bank Lender to (i) an Eligible Assignee entity that is an Affiliate of such BankLender or (ii) another Lender and provided that if any Borrower fails to respond to any such request for written consent within five (each an "Assignee"5) allBusiness Days, such Borrower shall be deemed to have consented to such assignment) all or any ratable part of all, of the Loans, the Commitments any Loan and the other rights and obligations of such Bank hereunderLender hereunder and under the other Finance Documents; provided that (A) (x) each such assignment by a Lender of its Loans, its Notes or its Commitments shall be made in such a manner so that the same portion of its Loans, its Notes and Commitments is assigned to the Assignee, (y) each such assignment by a Lender of its Loans, its Notes or its Commitments of a particular Tranche shall be made in such a manner so that the same portion of its Loans, its Notes and Commitments of each other Tranche is assigned to the Assignee and (z) Construction Loans, Construction Notes, and Construction Loan Commitments of a particular Tranche shall only be assigned contemporaneously with Term Loan Commitments of the same Tranche, (B) in the case of an assignment of any part of a Loan or share of an assignor’s commitments to any Assignee, such assignment shall not be for an amount less than $5,000,000 or, if less, such assignor’s entire interest in the Loans and/or the Commitments (provided that, in a connection with simultaneous assignments to two or more related Approved Funds, such Approved Funds shall be treated as one Assignee for purposes of determining compliance with the minimum amount of $5,000,000; providedassignment size referred to above), however, that and (iC) the Company Borrower and the Agents may continue to deal solely and directly with such Bank the assigning Lender in connection with the interest so assigned to an Assignee until (A1) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrowers and the Administrative Agent by such Bank assigning Lender and the Assignee; , (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C2) the assignor Bank assigning Lender or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; 3,500 (provided that only one processing fee shall be payable in connection with simultaneous assignments to two or more related Approved Funds), and (ii3) if the assignor Bank or any of its Affiliates is a Swap Provider with respect assigning Lender shall have delivered to any Specified Swap Contract, such Bank shall not assign all of its interest the Borrowers and the Administrative Agent an Assignment and Acceptance substantially in the 76 128 Loans form of Exhibit F hereto (an “Assignment and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate Acceptance”) with respect to such Specified Swap Contracts, with assignment from the consent of the Companyassigning Lender. (b) From and after the date that the Administrative Agent notifies the assignor Bank assigning Lender and the Borrowers that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender hereunder and under the Loan other Finance Documents, and this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to effect the addition of the Assignee, and any reference to the assigning Lender hereunder or under the other Finance Documents shall thereafter refer to such Lender and to the Assignee to the extent of their respective interests and (ii) the assignor Bank assigning Lender shall, to the extent that rights and obligations hereunder and under the other Loan Finance Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Finance Documents. (c) Within five (5) Business Days after its receipt of notice by from the Administrative Agent that (i) it has received an executed Assignment and Acceptance and payment of the processing feefee and (ii) the Assignee has required a Note or Notes evidencing the Assignee’s assigned Commitments and Loans, the Company Borrowers shall execute and deliver to the Administrative Agent, Agent a new Note or Notes evidencing such the Assignee's ’s assigned Commitments and Loans and Commitment and, if the assignor Bank assigning Lender has retained a portion of its Loans Loans, a replacement Note or Notes reflecting the Commitment and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank assigning Lender (such Note or Notes to be in exchange for, but not in payment of, the Note or Notes held by such BankLender). (d) Notwithstanding the foregoing provisions of this Section 11.11 or any other provision of this Agreement, the Administrative Agent has the right, but not the obligation, to effectuate assignments of Loans and Commitments via an electronic settlement system acceptable to the Administrative Agent as designated in writing from time to time to the Lenders by the Administrative Agent (the “Settlement Service”). Immediately upon At any time when the Administrative Agent elects, in its sole discretion, to implement such Settlement Service, each Assignee's making its processing fee payment such assignment shall be effected by the assigning Lender and proposed Assignee pursuant to the procedures then in effect under the Assignment Settlement Service, which procedures shall be consistent with the other provisions of this Section 11.11. Each assigning Lender and Acceptanceproposed Eligible Assignee shall comply with the requirements of the Settlement Service in connection with effecting any assignment of Loans and Commitments pursuant to the Settlement Service. With the prior approval of the Administrative Agent, the Administrative Agent’s approval of such Eligible Assignee shall be deemed to have been automatically granted with respect to any transfer effected through the Settlement Service. Assignments and assumptions of the Loans and the Commitments shall be effected by the provisions set forth herein until the Administrative Agent notifies the Lenders of the Settlement Service as set forth herein. (e) In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrowers and the Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (A) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent and each other Lender hereunder (and interest accrued thereon), and (B) acquire (and fund as appropriate) its full pro rata share of all Loans. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable law without compliance with the provisions of this Agreement paragraph, then the assignee of such interest shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition a Defaulting Lender for all purposes of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce this Agreement until such Commitments of the assigning Bank pro tantocompliance occurs. (df) Any Bank Lender may at any time sell to one on or more commercial banks or other Persons not Affiliates after the occurrence of the Company (a "Participant") participating interests in any Conversion Date with respect to both Tranche A Loans and Tranche B Loans, without the consent of, or notice to, the applicable Borrower or the Administrative Agent, sell participations to any Person (other than a natural Person or the Borrowers or any of the Borrowers’ Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment of that Bank and and/or the other interests of that Bank (the "originating Bank") hereunder and under the other Loan DocumentsLoans owing to it); provided, however, provided that (i) the originating Bank's such Lender’s obligations under this Agreement shall remain unchanged, (ii) the originating Bank such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, and (iii) the Company Borrower, the Administrative Agent and the Agents Lenders shall continue to deal solely and directly with the originating Bank such Lender in connection with the originating Bank's such Lender’s rights and obligations under this Agreement. For the avoidance of doubt, each Lender shall be responsible for the indemnity under Sections 2.14(d) and 10.7 with respect to any payments made by such Lender to its Participant(s). Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and the other Loan Documentsto approve any amendment, and (iv) no Bank shall transfer modification or grant any participating interest under which the Participant has rights to 01. In the case waiver of any such participation, the Participant shall not have any rights under provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, or any without the consent of the other Loan DocumentsParticipant, and all amounts payable by the Company hereunder shall be determined as if agree to any amendment, modification or waiver with respect to Section 11.10 that affects such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, Participant. The Borrowers agree that each Participant shall be deemed entitled to have the right benefits of set-off in respect of its Sections 2.17, and Section 2.14 (subject to the requirements and limitations therein, including the requirements under Section 2.14(f) (it being understood that the documentation required under Section 2.14(f) shall be delivered to the participating interest in amounts owing under this Agreement Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section; provided that such Participant (A) agrees to be subject to the amount provisions of Section 2.20 as if it were an assignee under paragraph (a) of this Section; and (B) shall not be entitled to receive any greater payment under Sections 2.17 or 2.14 with respect to any participation, than its participating Lender would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation. Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use reasonable efforts to cooperate with the Borrower to effectuate the provisions of Section 2.20 with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 11.14 as though it were a Lender; provided that such Participant agrees to be subject to Section 8.7 as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as an agent of the Borrowers, 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 were owing directly in the Loans or other obligations under the Finance Documents (the “Participant Register”); provided that no Lender shall have any obligation to it disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Finance Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Bank under this AgreementParticipant Register. (eg) Notwithstanding any other provision contained in this AgreementAgreement or any other Transaction Document to the contrary, any Bank Lender may at any time create a security interest in, or pledge, assign all or any portion of its rights under and interest in this Agreement and the Note Loans held by it as collateral security; provided that any payment in favor respect of any Federal Reserve Bank such assigned Loans or Notes made by the Borrowers to or for the account of the assigning or pledging Lender in accordance with Regulation A the terms of this Agreement shall satisfy the FRB Borrowers’ obligations hereunder in respect to such assigned Loans or U.S. Treasury Regulation 31 CFR Section203.14, and Notes to the extent of such Federal Reserve Bank may enforce payment. No such pledge or security interest in any manner permitted under applicable lawassignment shall release the assigning Lender from its obligations hereunder.

Appears in 1 contract

Samples: Credit Agreement (Clean Energy Fuels Corp.)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsBorrower at all times other than during the existence of an Event of Default and in all cases, with the written consent of the Administrative Agent, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Borrower or the Administrative Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,00010,000,000; provided, however, that (i) the Company Borrower and the Agents Administrative Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment assignment and Acceptance acceptance in the form of Exhibit E D ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents; and (iii) this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing feefee (and provided that it consents to such assignment in accordance with Subsection 8.13(a)), the Company Borrower shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrower (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company Borrower and the Agents Administrative Agent shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.obligations

Appears in 1 contract

Samples: Loan Agreement (Williams Communications Group Inc)

Assignments, Participations, etc. (a) Any Agent may, and with the written consent of the Agents, which consents shall not be unreasonably withheld, any other Bank, Bank may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent all or a portion of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other its rights and obligations under this Agreement (including all or a portion of such Bank hereunder, in a minimum amount of $5,000,000its Commitment and the Loans at the time owing to it); provided, however, PROVIDED that (i) except in the Company case of an assignment of the entire remaining amount of the assigning Bank's Commitment and the Agents may continue Loans at the time owing to deal solely and directly with such it or in the case of an assignment to a Bank in connection with or an Affiliate of a Bank, the interest so assigned aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) subject to an Assignee until (A) written notice of each such assignment, together determined as of the date the Assignment and Assumption with payment instructionsrespect to such assignment is delivered to the Canadian Administrative Agent or, addresses if "Trade Date" is specified in the Assignment and related information Assumption, as of the Trade Date, shall be in Canadian Dollars and shall not be less than the Equivalent Amount in Canadian Dollars of US$5,000,000 unless each of the Canadian Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrowers otherwise consent (each such consent not to be unreasonably withheld or delayed); (ii) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Bank's rights and obligations under this Agreement with respect to the AssigneeLoans or the Commitment assigned; (iii) any assignment of a Commitment or part thereof or any Loans must be approved by the Canadian Administrative Agent and, provided no Event of Default has occurred and is continuing, the Borrowers (such approval not to be unreasonably withheld or delayed by the Canadian Administrative Agent and the Borrowers; for greater certainty, it shall have been given not be unreasonable for the Canadian Administrative Agent or the Borrowers to withhold their consent if the Canadian Administrative Agent or the Borrowers, respectively, reasonably expect to incur additional costs (including any Taxes) as a result of the assignment) unless the Person that is the proposed assignee is itself a Bank; and (iv) the parties to each assignment shall execute and deliver to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Canadian Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") Assumption, together with any Note or Notes subject a processing and recordation fee of US$3,500. Subject to such assignment acceptance and (C) recording thereof by the assignor Bank or Assignee has paid to each the Canadian Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect pursuant to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. subsection (b) From of this Section and subject to Section 10.08(d), from and after the effective date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed specified in each Assignment and Acceptance and payment of Assumption, the above-referenced processing fee, (i) the Eligible Assignee thereunder shall be a party hereto to this Agreement and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and AcceptanceAssumption, shall have the rights and obligations of a Bank under the Loan Documentsthis Agreement, and (ii) the assignor assigning Bank thereunder shall, to the extent that rights and obligations hereunder and under of the other Loan Documents have been interest assigned by it pursuant to such Assignment and AcceptanceAssumption, relinquish its rights and be released from its obligations under this Agreement (and, in the Loan Documentscase of an Assignment and Assumption covering all of the assigning Bank's rights and obligations under this Agreement, such Bank shall cease to be a party hereto but shall continue to be entitled to the benefits of SECTIONS 3.01, 3.03, 3.04, 3.05, 10.04 AND 10.05 with respect to facts and circumstances occurring prior to the effective date of such assignment). Any assignment or transfer by a Bank of rights or obligations under this Agreement that does not comply with this subsection shall be, subject to compliance with subsection (c) of this Section, treated for purposes of this Agreement as a sale by such Bank of a participation in such rights and obligations in accordance with subsection (c) of this Section. (b) The Canadian Administrative Agent, acting solely for this purpose as an agent of the applicable Borrower, shall maintain at its office a copy of each Assignment and Assumption delivered to it, a record of the mandated purchases of participations pursuant to Section 2.13 and a register for the recordation of the names and addresses of the Banks, and the Commitments of, and principal amounts of the Loans owing to, each Bank pursuant to the terms hereof from time to time (the "REGISTER"). The entries in the Register shall be conclusive, and the Borrowers, the Canadian Administrative Agent and the Banks may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Bank hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrowers and any Bank, at any reasonable time and from time to time upon reasonable prior notice. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time time, without the consent of, or notice to, the applicable Borrower or the Canadian Administrative Agent, sell participations to one any Person (other than a natural person or more commercial banks the Borrower or other Persons not Affiliates any of the Company Borrower's Affiliates or Subsidiaries) (each, a "ParticipantPARTICIPANT") participating interests in any Loans, all or a portion of such Bank's rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan DocumentsLoans owing to it); provided, however, PROVIDED that (i) the originating such Bank's obligations under this Agreement shall remain unchanged, (ii) the originating such Bank shall remain solely responsible to the other parties hereto for the performance of such obligations, obligations and (iii) the Company Borrower, the Canadian Administrative Agent and the Agents other Banks shall continue to deal solely and directly with the originating such Bank in connection with the originating such Bank's rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Bank sells such a participation shall provide that such Bank shall retain the sole right to enforce this Agreement and the other Loan Documentsto approve any amendment, and (iv) no Bank shall transfer modification or grant any participating interest under which the Participant has rights to 01. In the case waiver of any provision of this Agreement; PROVIDED that such participationagreement or instrument may provide that such Bank will not, without the consent of the Participant, (such consent not to be unreasonably withheld or delayed) agree to any amendment, waiver or other modification described in the first proviso to SECTION 10.01 that directly affects such Participant. Subject to subsection (d) of this Section, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, Borrower agrees that each Participant shall be deemed entitled to have the right benefits of set-off in respect of its participating interest in amounts owing under this Agreement SECTIONS 3.01, 3.04 and 3.05 to the same extent as if the amount of its participating interest it were owing directly to it as a Bank and had acquired its interest by assignment pursuant to subsection (a) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of SECTION 10.10 as though it were a Bank, PROVIDED such Participant agrees to be subject to SECTION 2.13 AND SECTION 10.09 as though it were a Bank. (d) Neither an Eligible Assignee nor a Participant shall be entitled to receive any greater payment under this AgreementSECTION 2.13, 3.01 OR 3.04 than the applicable Bank granting the participation or assigning its interest in the Credit (or Commitment) to the Eligible Assignee would have been entitled to receive with respect to the participation or assigned interest or Commitment sold to such Eligible Assignee or Participant, unless the sale of the participation or assignment to such Participant or Eligible Assignee is made with the Borrower's prior written consent or, at the time of such sale of the participation or assignment, an Event of Default has occurred and is continuing. A Participant that would be a non-resident of Canada for purposes of the Income Tax Act (Canada) if it were a Bank shall not be entitled to the benefits of SECTION 3.01 unless, at the time of the sale of the participation, the Borrowers are notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrowers, to comply with SECTIONS 10.15 AND 10.09 as though it were a Bank. (e) Notwithstanding any other provision in this Agreement, any Any Bank may at any time create pledge or assign a security interest in, or pledge, in all or any portion of its rights under and interest in this Agreement and the Note held by it in favor to secure obligations of such Bank, including any pledge or assignment to secure obligations to a Federal Reserve Bank in accordance with Regulation A or Bank of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce Canada; PROVIDED that no such pledge or security interest in assignment shall release such Bank from any manner permitted under applicable lawof its obligations hereunder or substitute any such pledgee or assignee for such Bank as a party hereto.

Appears in 1 contract

Samples: Credit Agreement (Career Education Corp)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the -------------------------------- advance written consent of the AgentsCompany at all times other than during the existence of an Event of Default and the Agent, which consents consent of the Company shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company or the Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") -------- all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,00010,000,000 and such Bank shall concurrently therewith assign a ratable portion in the Transfer and Administration Agreement; provided, however, that (i) the -------- ------- Company and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an a Notice of Assignment and Acceptance in the form of Exhibit E I ("Notice of Assignment and Acceptance") --------- ----------------------------------- together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Mattel Inc /De/)

Assignments, Participations, etc. (a) Any Agent Lender may, with the --------------------------------- written consent of Agent, and with the written consent of the AgentsBorrower, which consents consent of Borrower shall not be unreasonably withheldwithheld and shall not be required if an Event of Default has occurred and is continuing, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Agent or Borrower shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments -------- and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of $5,000,0005,000,000 or, if less, the entire Commitment of such Lender; provided, however, that (i) the Company Borrower and the Agents Agent may continue to deal solely -------- ------- and directly with such Bank Lender in connection with the interest so assigned to an Assignee until until: (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank Lender and the Assignee; ; (Bii) such Bank Lender and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E and substance reasonably satisfactory to Agent, such Lender and its Assignee (an "Assignment and Acceptance") together with any Note or Notes subject to such assignment ); and ------------------------- (Ciii) the assignor Bank Lender or the Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender that it the Agent has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) to an executed Assignment and Acceptance and payment of the above-referenced processing fee, : (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under this Agreement and the other Loan Documents, and ; and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by Immediately upon the Administrative Agent that it has received an executed Assignment and Acceptance and payment making of the processing fee, the Company shall execute and deliver fee payment to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion Agent in respect of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments Commitment of the assigning Bank pro tantoLender to the same extent. (d) Any Bank Lender may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrower (a "Participant") participating ----------- interests in any Loans, the Commitment of that Bank Lender and the other interests of that Bank Lender (the "originating BankOriginating Lender") hereunder and under the other Loan ------------------ Documents; provided, however, that that: -------- ------- (i) the originating BankOriginating Lender's obligations under this Agreement shall remain unchanged, ; (ii) the originating Bank Originating Lender shall remain solely responsible for the performance of such obligations, ; (iii) the Company Borrower and the Agents Agent shall continue to deal solely and directly with the originating Bank Originating Lender in connection with the originating BankOriginating Lender's rights and obligations under this Agreement and the other Loan Documents, and ; and (iv) no Bank Lender shall transfer or grant any participating interest under which the Participant has shall have rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Lenders as described in the first proviso ----- ------- to 01Section 9.1. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company Borrower hereunder shall be determined as if such Bank Lender had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision contained in this AgreementAgreement or any other Loan Document to the contrary, any Bank Lender may at any time create a security interest in, or pledge, assign all or any portion of its rights under and interest in this Agreement and the Note Loans held by it in favor of to any Federal Reserve Bank in accordance with Lender or the United States Treasury as collateral security pursuant to Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, Federal Reserve Board and any Operating Circular issued by such Federal Reserve Bank may enforce Lender, provided that any -------- payment in respect of such pledge assigned Loans made by the Borrower to or security interest for the account of the assigning or pledging Lender in any manner permitted under applicable lawaccordance with the terms of this Agreement shall satisfy the Borrower's obligations hereunder in respect to such assigned Loans to the extent of such payment. No such assignment shall release the assigning Lender from its obligations hereunder.

Appears in 1 contract

Samples: Credit Agreement (Shade Acquisition Inc)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsCompany at all times other than during the existence of an Event of Default and the Agent, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company or the Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) the Company and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be become a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, (and provided that it consents to such assignment in accordance with subsection 10.8(a)), the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Revolving Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments the Commitment of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents Agent shall continue to deal solely and directly with the originating Originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Banks as described in the first proviso to Section 10. 011. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 3.1, or any of the other Loan Documents3.3 and 10.5 as though it were also a Bank hereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14(S)203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (National Surgery Centers Inc \De\)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of (i) the Agents, Company at all times other than during the existence of an Event of Default (which consents consent shall not be unreasonably withheld) and (ii) the Agent (which consent shall not be unreasonably withheld), any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company or the Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate affiliate of such Bank) which have not been a party to any Material litigation with the Agent or the Company (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Bank hereunder, in a an initial minimum amount of $5,000,00010,000,000 and in minimum amounts of $1,000,000 after the first assignment; provided, however, that (iA) each Bank (including each Eligible Assignee) must retain a Commitment of not less than $15,000,000 after giving effect to such assignment (unless such assignor Bank transfers and assigns all of its Commitment hereunder), and (B) the Company and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A1) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B2) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E "G" ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C3) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; 3,000. All costs and (ii) if the assignor expenses incurred by an assigning Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, in such Bank assignment shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless be borne by such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the CompanyBank. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent with respect to and obtained received the consent of the Documentation Agent) Company with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Banking Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing feefee (and provided that it consents to such assignment in accordance with Section 11.6(a)), the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may may, with the written consent (which consent shall not be required if the participation is to an affiliate of the Bank) of (i) the Company at all times other than during the existence of an Event of Default (which consent shall not be unreasonably withheld) and (ii) the Agent (which consent shall not be unreasonably withheld), at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (iA) the originating Bank's obligations under this Agreement shall remain unchanged, (iiB) the originating Bank shall remain solely responsible for the performance of such obligations, (iiiC) the Company and the Agents Agent shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (ivD) no Bank shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Banks as described in the first proviso to Section 11. 011. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 4.5, or any of the other Loan Documents4.7, 4.8 and all amounts payable by the Company hereunder shall be determined 11.12 as if such though it were also a Bank had not sold such participation; except thathereunder, and, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Each Bank agrees to take normal and reasonable precautions and exercise due care to maintain the confidentiality of all information identified as "confidential" or "secret" by the Company and provided to it by the Company or any Subsidiary, or by the Agent on such Company's or Subsidiary's behalf, under this Agreement or any other Loan Document, and neither it nor any of its Affiliates shall use any such information other than in connection with or in enforcement of this Agreement and the other Loan Documents; except to the extent such information (i) was or becomes generally available to the public other than as a result of disclosure by the Bank, or (ii) was or becomes available on a non-confidential basis from a source other than the Company, provided that such source is not bound by a confidentiality agreement with the Company known to the Bank; provided, however, that any Bank may disclose such information (A) at the request or pursuant to any requirement of any Governmental Authority to which the Bank is subject or in connection with an examination of such Bank by any such authority; (B) pursuant to subpoena or other court process; (C) when required to do so in accordance with the provisions of any applicable Requirement of Law; (D) to the extent reasonably required in connection with any litigation or proceeding to which the Agent, any Bank or their respective Affiliates may be party; (E) to the extent reasonably required in connection with the exercise of any remedy hereunder or under any other Loan Document; (F) to such Bank's independent auditors and other professional advisors; (G) to any Participant or Assignee, actual or potential, provided that such Person agrees in writing to keep such information confidential to the same extent required of the Banks hereunder, and (H) as to any Bank, as expressly permitted under the terms of any other document or agreement regarding confidentiality to which the Company is party or is deemed party with such Bank. (f) Notwithstanding any other provision in this Agreement, the parties to this Agreement acknowledge and agree that the provisions of this Section concerning assignments of Loans and Notes relate only to absolute assignments, and do not prohibit or restrict assignments by any Bank may at creating security interests, including any time create pledge or assignment by a security interest in, Bank of any Loan or pledge, all Note or other rights or interests in or to this Agreement (or any portion of its rights under and interest in this Agreement and the Note held by it thereof) in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14ss.203.14 or any other applicable law, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable lawLaw. The Company, upon receipt of written notice from the applicable Bank, agrees to issue Notes to any Bank requiring Notes to facilitate transactions of the type described in this paragraph.

Appears in 1 contract

Samples: Credit Agreement (Pan Pacific Retail Properties Inc)

Assignments, Participations, etc. (a) Any Agent mayThe provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, and with except that the Company may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee in accordance with the Agentsprovisions of subsection (b) of this Section, which consents shall not be unreasonably withheld, (ii) by way of participation in accordance with the provisions of subsection (d) of this Section or (iii) by way of pledge or assignment of a security interest subject to the restrictions of subsection (f) or (h) of this Section (and any other Bankattempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Indemnified Persons and their permitted successors and assigns) any legal or equitable right, remedy or claim under or by reason of this Agreement. (b) Any Lender may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent all or a portion of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other its rights and obligations under this Agreement (including all or a portion of such Bank hereunder, in a minimum amount of $5,000,000its Loans at the time owing to it); provided, however, provided that (i) except in the Company and case of an assignment of the Agents may continue entire remaining amount of the assigning Lender's Loans at the time owing to deal solely and directly it or in the case of an assignment to a Lender or an Affiliate of a Lender or an Approved Fund (as defined in subsection (g) of this Section) with such Bank in connection with respect to a Lender, the interest so assigned aggregate amount of the Term Loans subject to an Assignee until (A) written notice of each such assignment, together determined as of the date the Assignment and Assumption with payment instructionsrespect to such assignment is delivered to the Agent or, addresses if "Trade Date" is specified in the Assignment and related information Assumption, as of the Trade Date, shall not be less than $1,000,000 unless each of the Agent and, so long as no Event of Default has occurred and is continuing, the Company otherwise consents (each such consent not to be unreasonably withheld or delayed); (ii) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender's rights and obligations under this Agreement with respect to the Assignee, Term Loans assigned; and (iii) the parties to each assignment shall have been given execute and deliver to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance Assumption, together with a processing and recordation fee of $3,500 (which fee shall not, except in the form case of Exhibit E an assignment pursuant to Section 3.07 ("Assignment and Acceptance") together with any Note or Notes subject to if such assignment and (C) fee is not paid by the assignor Bank or Assignee has paid to each assignee), be payable by the Administrative Agent a processing Company); provided that no such fee shall be payable in the amount case of its $[______________]; any assignment by a Lender to an Affiliate or Approved Fund of such Lender. Subject to acceptance and recording thereof by the Agent pursuant to subsection (iic) if the assignor Bank or any of its Affiliates is a Swap Provider with respect this Section (but without prejudice to any Specified Swap Contract, such Bank shall not assign all right of its interest in the 76 128 Loans and the Commitments assigning Lender otherwise specified herein to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with make assignments hereunder without the consent of the Company. (b) From Agent), from and after the effective date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed specified in each Assignment and Acceptance and payment of Assumption, the above-referenced processing fee, (i) the Eligible Assignee thereunder shall be a party hereto to this Agreement and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and AcceptanceAssumption, shall have the rights and obligations of a Bank Lender under this Agreement (provided that, with respect to circumstances in effect on the Loan Documentseffective date of such Assignment and Assumption, an Eligible Assignee shall not be entitled to receive any greater payment under Section 3.01 than the applicable Lender would have been entitled to receive had the assignment not taken place), and (ii) the assignor Bank assigning Lender thereunder shall, to the extent that rights and obligations hereunder and under of the other Loan Documents have been interest assigned by it pursuant to such Assignment and AcceptanceAssumption, relinquish its rights and be released from its obligations under this Agreement (and, in the Loan Documentscase of an Assignment and Assumption covering all of the assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Section 3.01, Section 3.03, Section 3.04, Section 10.04 and Section 10.05 with respect to facts and circumstances occurring prior to the effective date of such assignment). Upon request, the Company (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with subsection (d) of this Section. (c) Within five Business Days after its receipt The Agent, acting solely for this purpose as an agent of the Company, shall maintain at the Agent's Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the principal amounts of the Term Loans owing to each Lender pursuant to the terms hereof from time to time (the "Register"). The entries in the Register shall be conclusive, and the Company, the Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Administrative Agent that it has received an executed Assignment Company and Acceptance any Lender at any reasonable time and payment of the processing fee, the Company shall execute and deliver from time to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately time upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tantoreasonable prior notice. (d) Any Bank Lender may at any time time, without the consent of, or notice to, the Company or the Agent, sell participations to one any Person (other than a natural person or more commercial banks the Company or other Persons not Affiliates any of the Company Company's Subsidiaries) (each, a "Participant") participating interests in any Loans, all or a portion of such Lender's rights and/or obligations under this Agreement (including all or a portion of the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan DocumentsTerm Loans owing to it); provided, however, provided that (i) the originating Banksuch Lender's obligations under this Agreement shall remain unchanged, (ii) the originating Bank such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, obligations and (iii) the Company Company, the Agent and the Agents other Lenders shall continue to deal solely and directly with the originating Bank such Lender in connection with the originating Banksuch Lender's rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and the other Loan Documentsto approve any amendment, and (iv) no Bank shall transfer modification or grant any participating interest under which the Participant has rights to 01. In the case waiver of any provision of this Agreement; provided that such participationagreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to Section 10.01 that directly affects such Participant. Subject to subsection (e) of this Section, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, agrees that each Participant shall be deemed entitled to have the right benefits of set-off in respect of its participating interest in amounts owing under this Agreement Section 3.01, Section 3.03, and Section 3.04 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section. To the amount extent permitted by law, each Participant also shall be entitled to the benefits of its participating interest Section 10.09 as though it were owing directly a Lender, provided such Participant agrees to be subject to Section 2.13 as though it as were a Bank under this AgreementLender. (e) Notwithstanding A Participant shall not be entitled to receive any other provision in this Agreementgreater payment under Section 3.01 or Section 3.03 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, any Bank unless the sale of the participation to such Participant is made with the Company's prior written consent. A Participant that is not a "United States person" within the meaning of Section 7701(a)(30) of the Code shall not be entitled to the benefits of Section 3.01 unless the Company is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Company, to comply with Section 9.12 as though it were a Lender. (f) Any Lender may at any time create pledge or assign a security interest in, or pledge, in all or any portion of its rights under and interest in this Agreement and the Note held by it in favor (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce Lender; provided that no such pledge or security interest in assignment shall release such Lender from any manner permitted under applicable lawof its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. (g) As used herein, the following terms have the following meanings:

Appears in 1 contract

Samples: Credit Agreement (Conseco Inc)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsCompany at all times other than during the existence of an Event of Default and the Agent and the Issuing Bank, which consents consent of the Company shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company, the Agent or the Issuing Bank shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitments, the L/C Obligations and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) the Company and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and assignment; (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; 4,000 and (iiiv) the Agent and, if applicable, the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank Company shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Companyhave consented thereto. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it and assumed by the Assignees pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, (and provided that it consents to such assignment in accordance with subsection 12.8(a)), the Company shall execute 70 78 and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Revolving Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each AssigneeFollowing receipt by the Agent of all consents to such assignment required hereby and of the Agent's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company Company, the Issuing Bank and the Agents Agent shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Banks as described in the first proviso to Section 12. 011. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 4.1, or any of the other Loan Documents4.3 and 12.5 as though it were also a Bank hereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14ss.203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Midway Games Inc)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsCompany, the Agent and each Issuing Bank (which consents shall not be unreasonably withheldwithheld and, any other Bankin the case of the Company, may shall not be required during the existence of an Event of Default) at any time time, assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company or the Agent or any Issuing Bank shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitments, the L/C Obligations and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,00010,000,000; provided, however, provided that (i) the Company and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E G ("Assignment and Acceptance") together with any Note or Notes subject to such assignment ); and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and 3,500 (ii) if except as set forth in a separate agreement between the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans Agent and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the CompanyCo-Agent). (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained with respect to and, to the extent required, received the consent of the Documentation Agent) with respect toIssuing Bank and the Company) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Dreyers Grand Ice Cream Holdings Inc)

Assignments, Participations, etc. (a) Any Agent mayThe provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, and with except that the Company may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee in accordance with the Agentsprovisions of subsection (b) of this Section, which consents shall not be unreasonably withheld(ii) by way of participation in accordance with the provisions of subsection (d) of this Section, (iii) by way of pledge or assignment of a security interest subject to the restrictions of subsection (f) or (i) of this Section, or (iv) to an SPC in accordance with the provisions of subsection (h) of this Section (and any other Bankattempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Indemnitees) any legal or equitable right, remedy or claim under or by reason of this Agreement. (b) Any Lender may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent all or a portion of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments and the other its rights and obligations under this Agreement (including all or a portion of such Bank hereunderits Commitment and the Loans (including for purposes of this subsection (b), participations in a minimum amount of $5,000,000L/C Obligations and in Swing Line Loans) at the time owing to it); provided, however, provided that (i) except in the Company case of an assignment of the entire remaining amount of the assigning Lender's Commitment and the Agents may continue Loans at the time owing to deal solely and directly it or in the case of an assignment to a Lender or an Affiliate of a Lender or an Approved Fund (as defined in subsection (g) of this Section) with such Bank in connection with respect to a Lender, the interest so assigned aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) subject to an Assignee until (A) written notice of each such assignment, together determined as of the date the Assignment and Assumption with payment instructionsrespect to such assignment is delivered to the Administrative Agent or, addresses if "Trade Date" is specified in the Assignment and related information Assumption, as of the Trade Date, shall not be less than $5,000,000 unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Company otherwise consents (each such consent not to be unreasonably withheld or delayed); (ii) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender's rights and obligations under this Agreement with respect to the AssigneeLoans or the Commitment assigned, except that this clause (ii) shall have been given not apply to rights in respect of Swing Line Loans; (iii) any assignment of a Commitment must be approved by the Company Administrative Agent, the applicable Issuing Lender and the Administrative Agent by Swing Line Lender (each such Bank approval not to be unreasonably withheld or delayed) unless the Person that is the proposed assignee is itself a Lender (whether or not the proposed assignee would otherwise qualify as an Eligible Assignee); and (iv) the Assignee; (B) such Bank parties to each assignment shall execute and its Assignee shall have delivered deliver to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") Assumption, together with any Note or Notes subject a processing and recordation fee of $3,500. Subject to such assignment acceptance and (C) the assignor Bank or Assignee has paid to each recording thereof by the Administrative Agent a processing fee in the amount pursuant to subsection (c) of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contractthis Section, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company. (b) From from and after the effective date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed specified in each Assignment and Acceptance and payment of Assumption, the above-referenced processing fee, (i) the Eligible Assignee thereunder shall be a party hereto to this Agreement and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and AcceptanceAssumption, shall have the rights and obligations of a Bank Lender under the Loan Documentsthis Agreement, and (ii) the assignor Bank assigning Lender thereunder shall, to the extent that rights and obligations hereunder and under of the other Loan Documents have been interest assigned by it pursuant to such Assignment and AcceptanceAssumption, relinquish its rights and be released from its obligations under this Agreement (and, in the Loan Documentscase of an Assignment and Assumption covering all of the assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of SECTIONS 4.1, 4.3, 4.4, 11.4 and 11.5 with respect to facts and circumstances occurring prior to the effective date of such assignment). Upon request, the Company (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with subsection (d) of this Section. (c) Within five Business Days after its receipt The Administrative Agent, acting solely for this purpose as an agent of notice by the Company, shall maintain at the Administrative Agent's Payment Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the "Register"). The entries in the Register shall be conclusive, and the Company, the Administrative Agent that it has received an executed Assignment and Acceptance and payment the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the processing fee, contrary. The Register shall be available for inspection by the Company shall execute and deliver any Lender, at any reasonable time and from time to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately time upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tantoreasonable prior notice. (d) Any Bank Lender may at any time time, without the consent of, or notice to, the Company or the Administrative Agent, sell participations to one any Person (other than a natural person or more commercial banks the Company or other Persons not Affiliates any of the Company Company's Affiliates or Subsidiaries ) (each, a "Participant") participating interests in any all or a portion of such Lender's rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans (including such Lender's participations in L/C Obligations and/or Swing Line Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documentsowing to it); provided, however, provided that (i) the originating Banksuch Lender's obligations under this Agreement shall remain unchanged, (ii) the originating Bank such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, obligations and (iii) the Company Company, the Administrative Agent and the Agents other Lenders shall continue to deal solely and directly with the originating Bank such Lender in connection with the originating Banksuch Lender's rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and the other Loan Documentsto approve any amendment, and (iv) no Bank shall transfer modification or grant any participating interest under which the Participant has rights to 01. In the case waiver of any provision of this Agreement; provided that such participationagreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to SECTION 11.1 that directly affects such Participant. Subject to subsection (e) of this Section, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, agrees that each Participant shall be deemed entitled to have the right benefits of set-off in respect of its participating interest in amounts owing under this Agreement SECTIONS 4.1, 4.3 and 4.4 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section. To the amount extent permitted by law, each Participant also shall be entitled to the benefits of its participating interest SECTION 11.10 as though it were owing directly a Lender, provided such Participant agrees to be subject to SECTION 2.13 as though it as were a Bank under this AgreementLender. (e) Notwithstanding A Participant shall not be entitled to receive any other provision in this Agreementgreater payment under SECTION 4.1 or 4.3 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, any Bank unless the sale of the participation to such Participant is made with the Company's prior written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of SECTION 4.1 unless the Company is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Company, to comply with SECTION 11.15 as though it were a Lender. (f) Any Lender may at any time create pledge or assign a security interest in, or pledge, in all or any portion of its rights under and interest in this Agreement and the Note held by it in favor (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce Bank; provided that no such pledge or security interest in assignment shall release such Lender from any manner permitted under applicable lawof its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. (g) As used herein, the following terms have the following meanings:

Appears in 1 contract

Samples: Long Term Credit Agreement (Republic Services Inc)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsBorrower at all times other than during the existence of an Event of Default, and the Agent and the Issuing Bank, (which consents in each case shall not be unreasonably withheld), any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Borrower, the Agent or the Issuing Bank shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such BankBank or that is a Bank then holding a Commitment hereunder) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitments, the L/C Obligations and the other rights and obligations of such Bank hereunder, in provided, that any such assigning Bank either retains a minimum amount Commitment or Loans of at least $5,000,000 or disposes of its entire Commitment or Loans and provided further that any Assignee shall have a Commitment or Loans of at least $5,000,000; provided, however, that (i) the Company Borrower and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of $4,000. No Assignee shall be entitled to higher recoveries or greater rights under Sections 4.1, 4.2 and 4.3 than its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Companyassignor. (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing feefee and the consent of the Issuing Bank (if required), (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, (ii) this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments and Loans arising therefrom, and (iiiii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating assignor Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of relinquish its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.Article IV or

Appears in 1 contract

Samples: Credit Agreement (Storage Technology Corp)

Assignments, Participations, etc. (a) Any Agent Bank may, and with the written consent of the AgentsCompanies (at all times other than during the existence of an Event of Default) and the Agent, which consents consent of the Agent shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Companies or the Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitment and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,00010,000,000; providedprovided (that such minimum amount shall not apply to any assignment and obligation by a Bank to an Eligible Assignee which is already a Bank), however, that (i) the Company Companies and the Agents Agent may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Companies and the Administrative Agent by such Bank and the Assignee; (Bii) such Bank and its Assignee shall have delivered to the Company Companies and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E K ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (Ciii) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company2,500 . (b) From and after the date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it the Agent has received an executed Assignment and Acceptance and payment of the processing fee, (and provided that each Company consents to such assignment in accordance with subsection 10.08(a)), the Company Companies shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment Agent a Bid Loan Note for the Assignee (if the Assignee was not previously a Bank under this Agreement) and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes is not retaining any interest in the principal amount of the Loans retained by the this Agreement such assignor Bank (such Notes shall promptly cancel and return its Bid Loan Note to be in exchange for, but not in payment of, the Notes held by such Bank)Agent for return to the Companies. Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Companies (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company Companies and the Agents Agent shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Banks as described in the first proviso to Section 10. 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company Companies hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Each Bank agrees to take normal and reasonable precautions and exercise due care to maintain the confidentiality of all information identified as "confidential" or "secret" by the Companies and provided to it by the Companies or any Subsidiary, or by the Agent on such Companies' or Subsidiary's behalf, under this Agreement or any other Loan Document, and neither it nor any of its Affiliates shall use any such information other than in connection with or in enforcement of this Agreement and the other Loan Documents; except to the extent such information (i) was or becomes generally available to the public other than as a result of disclosure by the Bank, or (ii) was or becomes available on a non-confidential basis from a source other than the Companies, provided that such source is not bound by a confidentiality agreement with the Companies known to the Bank; provided, however, that any Bank may disclose such information (A) at the request or pursuant to any requirement of any Governmental Authority to which the Bank is subject or in connection with an examination of such Bank by any such authority; (B) pursuant to subpoena or other court process; (C) when required to do so in accordance with the provisions of any applicable Requirement of Law; (D) to the extent reasonably required in connection with any litigation or proceeding to which the Agent, any Bank or their respective Affiliates may be party; (E) to the extent reasonably required in connection with the exercise of any remedy hereunder or under any other Loan Document; (F) to such Bank's independent auditors and other professional advisors; (G) to any Affiliate of such Bank, or to any Participant or Assignee, actual or potential, provided that such Affiliate, Participant or Assignee agrees to keep such information confidential to the same extent required of the Banks hereunder, and (H) as to any Bank, as expressly permitted under the terms of any other document or agreement regarding confidentiality to which the Companies is party or is deemed party with such Bank. In the event disclosure is required in connection with (B), (C) or (D), the Bank required to disclose shall use its best efforts to promptly notify the Companies prior to the date of required disclosure if practicable under the circumstances. (f) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the any Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14?203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law. (g) Notwithstanding anything to the contrary contained in this Section 10.08 but subject to the terms and conditions set forth in this subsection (g), any Bank may from time to time, elect to designate a Conduit to provide all or any part of Loans required to be made by such Bank to the Borrower pursuant to this Agreement or to acquire a participation interest in any Loans extended by such Bank hereunder (a "Conduit Designation"), provided the designation of a Conduit by any Bank for purposes of this Section 10.08(g) shall be subject to the approval of the Companies. No additional Note shall be required with regard to a Conduit Designation; provided, however, to the extent any Conduit shall advance funds under a Conduit Designation, the designating Bank shall be deemed to hold the Note in its possession as an agent for such Conduit to the extent of the Loan funded by such Conduit. Notwithstanding any such Conduit Designation, (x) the designating Bank shall remain solely responsible to the other parties hereto for its obligations under this Agreement and (y) the Companies and the Agent may continue to deal solely and directly with the designating Bank as administrative agent for such designating Bank's Conduit, in connection with all of such Conduit's rights and obligations under this Agreement, unless and until the Companies and the Agent are notified that the designating Bank has been replaced as administrative agent for its Conduit; any payments for the benefit of any designating Bank and its Conduit shall be paid to such designating Bank for itself as administrative agent for its Conduit, as applicable; provided neither the Companies nor the Agent shall be responsible for any designating Bank's application of any such payments. In addition, any Conduit may (i) with notice to, but without prior written consent of the Companies and the Agent, and without paying any processing fee therefor, assign all or portions of its interest in any Loans to the Bank that designated such Conduit or to any financial institutions consented to by the Companies and the Agent providing liquidity and/or credit facilities to or for the account of such Conduit to support the funding or maintenance of Loans and (ii) disclose on a confidential basis any non-public information relating to its Loans to any rating agency, commercial paper dealer or provider of any guarantee, surety, credit or liquidity enhancement to such Conduit. (h) Each party to this Agreement hereby agrees that, at any time a Conduit Designation is in effect, it shall not institute against, or join any other person in instituting against, any Conduit any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding or other proceedings under any federal or state bankruptcy or similar law, for one year and a day after the latest maturing commercial paper note issued by such Conduit is paid. This Section 10.08(h) shall survive the termination of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (St Jude Medical Inc)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the AgentsCompany at all times other than during the existence of an Event of Default and the Administrative Agent, which consents shall not be unreasonably withheld, any other Bank, may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Company, or the Administrative Agent shall be required in connection with an assignment and delegation by B of A or DLJ or in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Revolving Commitment, the L/C Obligations and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of $5,000,000; 5,000,000 (provided that no minimum amount shall be applicable to any assignment and delegation to an existing Lender or an Affiliate of a Lender or to an assignment of the entire remaining amount of the Loans and Commitment of a Lender) provided, however, that (i) the Company and the Agents Administrative Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (Ai) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank Lender and the Assignee; (Bii) such Bank Lender and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance substantially in the form of Exhibit E G ("Assignment and Acceptance") ), together with any Note or Notes subject to such assignment and assignment, (Ciii) the assignor Bank Lender or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; 3,000 and (iiiv) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest information in the 76 128 Loans Assignment and Acceptance is recorded in the Commitments Register pursuant to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Companysubsection (d) hereof. (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing feefee and it has recorded the information in the Register, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, Documents and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing feefee (and provided that it consents to such assignment in accordance with subsection 12.8(a)), the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank Lender has retained a portion of its Loans and its CommitmentCommitments, replacement Notes in the principal amount of the Loans retained by the assignor Bank Lender (such Notes to be in exchange for, but not in payment of, the Notes held by such BankLender). Immediately upon each Assignee's Assignee making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank Lender pro tanto. (d) The Company hereby designates the Administrative Agent to serve as the Company's agent, solely for purposes of this Section 12.8(d), to maintain a register (the "Register") on which it will record the Commitments from time to time of each of the Lenders, the address and any U.S. federal taxpayers identification number of each Lender, the Loans made by each of the Lenders and each repayment in respect of the principal amount of the Loans of each Lender. Failure to make any such recordation, or any error in such recordation shall not affect Lender's obligations in respect of such Loans. With respect to any Lender, the transfer of the Commitments of such Lender and the rights to the principal of, and interest on, any Loan made pursuant to such Commitments shall not be effective until such transfer is recorded on the Register maintained by the Administrative Agent with respect to ownership of such Commitments and loans and prior to such recordation all amounts owing to the transferor with respect to such Commitments and Loans shall remain owing to the transferor. The registration of assignment or transfer of all or part of any Commitments and Loans shall be recorded by the Administrative Agent on the Register only upon the acceptance by the Administrative Agent of a properly executed and delivered Assignment and Acceptance pursuant to this Section 12.8. Coincident with the delivery of such an Assignment and Acceptance to the Administrative Agent for acceptance and registration of assignment or transfer of all or part of a Loan, or as soon thereafter as practicable, the assigning or transferor Lender shall surrender the Note evidencing such Loan, and thereupon one or more new Notes in the same aggregate principal amount shall be issued to the assigning or transferor Lender and/or the new Lender. The Company agrees to indemnify the Administrative Agent from and against any and all losses, claims, damages and liabilities of whatsoever nature which may be imposed on, asserted against or incurred by the Administrative Agent in performing its duties under this Section 12.8(d). (e) Any Bank Lender may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank Lender and the other interests of that Bank Lender (the "originating BankLender") hereunder and under the other Loan Documents; provided, however, that (i) the originating BankLender's obligations under this Agreement shall remain unchanged, (ii) the originating Bank Lender shall remain solely responsible for the performance of such obligations, (iii) the Company Company, the Issuing Lender and the Agents Administrative Agent shall continue to deal solely and directly with the originating Bank Lender in connection with the originating BankLender's rights and obligations under this Agreement and the other Loan Documents, Documents and (iv) no Bank Lender shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Lenders as described in the first proviso to Section 12. 011. In the case of any such participation, the Participant shall not have any rights under this Agreementbe entitled to the benefit of Sections 4.1, or any of the other Loan Documents4.3 and 12.5 as though it were also a Lender hereunder, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Agreement. (ef) Notwithstanding any other provision in this Agreement, any Bank Lender may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14Section 203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Ameriserve Transportation Inc)

Assignments, Participations, etc. (a) Any Agent Subject to Section 10.13(b) below, any Lender may, and with the written prior consent of the Agents, Borrower (which consents consent shall not be unreasonably withheldwithheld or delayed or conditioned, however, it will not be considered unreasonable for the Borrower to withhold consent if any other Banksuch assignment (i) could have the effect of increasing the Borrower’s or any Guarantor’s costs under the Financing Documents, may due to new or increased Taxes, or otherwise or (ii) is to Itau or Bradesco), at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either Agent shall be required in connection with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an "Assignee") all, all or any ratable part of all, of the Loans, the Commitments its Loans and the other rights and obligations of such Bank hereunderLender hereunder and under the other Financing Documents, to another bank or financial institution. Any partial assignment of Loans under this Section 10.13(a) shall not be less than US$10,000,000 or any integral multiple of US$5,000,000 in a minimum amount excess thereof. (b) Notwithstanding Section 10.13(a) above, any Lender may, without the prior written consent of $5,000,000the Borrower, assign all or any part of its Loan and the other rights and obligations of such Lender hereunder and under the other Financing Documents (i) to an Affiliate of such Lender, (ii) to another Lender, (iii) to any Person following the occurrence and continuance of an Event of Default; provided, however, that (i) if the Company and the Agents may continue to deal solely and directly with such Bank in connection with the interest so Loans are assigned to Itau or Bradesco pursuant to this clause (iii), any breach of the obligations contained in the proviso to Section 5.25(b) is automatically deemed waived without any action on the part of any party hereto, or (iv) if requested to do so by the Borrower under Section 2.13; provided that only with respect to assignments to an Assignee until Affiliate of a Lender or another Lender (A) the assigning Lender shall have given at least ten (10) Business Days’ prior written notice to the Borrower, the Administrative Agent and the Security Agent of such proposed assignment, together with payment instructions, addresses and related information with respect to the Assigneeassignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank proposed assignment would not result in any increase in Taxes or increased cost to the Borrower, (C) any partial assignment of any Loan under this Section 10.13(b) shall not be less than US$10,000,000 or any integral multiple of US$5,000,000 in excess thereof, and (D) each such assignment by a Lender of its Assignee Loans shall be made in such a manner so that the same portion of its Loans is assigned to the assignee. With respect to any assignment under this Section 10.13, the Borrower, the Administrative Agent and the Security Agent may continue to deal solely and directly with the assigning Lender in connection with the interest so assigned until the assigning Lender shall have delivered to the Company Borrower, the Administrative Agent and the Administrative Security Agent an Assignment and Acceptance substantially in the form of Exhibit E A attached hereto ("an “Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with assignment from the consent of the Companyassigning Lender. (bc) From Subject to Section 8.10, from and after the date that the Administrative Agent notifies the assignor Bank assigning Lender and the Borrower that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing feeAcceptance, (i) the Assignee assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender hereunder and under the Loan other Financing Documents, and this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to effect the addition of the assignee, and any reference to the assigning Lender hereunder or under the other Financing Documents shall thereafter refer to such Lender and to the assignee to the extent of their respective interests, and (ii) the assignor Bank assigning Lender shall, to the extent that rights and obligations hereunder and under the other Loan Financing Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Financing Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent ; provided that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion any Lender that assigns all of its Loans and its Commitment, replacement Notes hereunder in accordance with Section 10.13 shall continue to have the principal amount benefit of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment indemnification provisions under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extentextent any indemnification relates to facts which occurred while it was a Lender (including Sections 2.8, but only 2.10, 2.11, 10.1 and 10.2), which shall survive as to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tantoLender. (d) Any Bank may Lender (the “Originating Lender”) may, at its own cost, at any time after the initial Borrowing has occurred, sell to one or more commercial banks bank, financial institution, trust, fund or other Persons entity which is regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other financial assets which is not Affiliates an Affiliate of the Company Borrower, a Competitor or an Affiliate of a Competitor (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documentsits Loan; provided, however, that (i) the originating Bank's Originating Lender’s obligations under this Agreement shall remain unchanged, (ii) the originating Bank Originating Lender shall remain solely responsible for the performance of such obligations, (iii) the Company Borrower and the Agents Administrative Agent shall continue to deal solely and directly with the originating Bank Originating Lender in connection with the originating Bank's Originating Lender’s rights and obligations under this Agreement and the other Loan Financing Documents, and (iv) any such sale of participating interest shall not result in any increase in Taxes or increased cost to the Borrower or Guarantors and (v) no Bank Lender shall transfer or grant any participating interest under which the Participant has shall have rights to approve any amendment to 01, or any consent or waiver with respect to, this Agreement or any other Financing Document. In the case of any such participation, the Participant shall not have any rights or claims under this Agreement, Agreement or any of the other Loan Documents, Financing Documents (the Participant’s rights against the Originating Lender in respect of such participation to be those set forth in the agreement executed by the Originating Lender in favor of the Participant relating thereto) and all amounts payable by the Company Borrower hereunder shall be determined as if such Bank Lender had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision contained in this AgreementAgreement or any other Financing Document to the contrary, any Bank Lender may at any time create a pledge or assign as collateral security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note Loans held by it it; provided that (i) the pledge or assignment as collateral security, its enforcement and payment thereunder would not result in favor any increased costs or Taxes on the Borrower or the Guarantors and (ii) any payment in respect of any Federal Reserve Bank such assigned Loans made by the Borrower to or for the account of the assigning or pledging Lender in accordance with Regulation A the terms of this Agreement shall satisfy the Borrower’s obligations hereunder in respect to such assigned Loan to the extent of such payment. No such assignment shall release the assigning Lender from its obligations hereunder. (f) If: i. a Lender assigns or transfers any of its rights or obligations under the Financing Documents or changes its Applicable Lending Office; and ii. as a result of circumstances existing at the date the assignment, transfer or change occurs, the Borrower would be obliged to make a payment to a permitted assignee or Lender acting through its new Applicable Lending Office under Sections 2.8 or 2.10, then the permitted assignee or Lender acting through its new Applicable Lending Office is only entitled to receive payment under those Sections to the same extent as the assigning Lender or Lender acting through its previous Applicable Lending Office would have been if the assignment, transfer or change had not occurred. (g) Subject to actions permitted under (x) clause 5.2(a) of the FRB Fiduciary Assignment and (y) clause 5.2(a) of the Additional Fiduciary Assignments, the Borrower shall not assign or U.S. Treasury Regulation 31 CFR Section203.14, otherwise transfer any of its rights and such Federal Reserve Bank may enforce such pledge obligations under this Agreement or security interest in any manner permitted under applicable lawother Financing Document without the prior written consent of the Administrative Agent (acting on the instructions of all Lenders).

Appears in 1 contract

Samples: Credit Agreement (Nii Holdings Inc)

Assignments, Participations, etc. (a) Any Agent mayThe provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, and with except that the Company may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee in accordance with the Agentsprovisions of subsection (b) of this Section, which consents shall not be unreasonably withheld, (ii) by way of participation in accordance with the provisions of subsection (d) of this Section or (iii) by way of pledge or assignment of a security interest subject to the restrictions of subsection (f) or (h) of this Section (and any other Bankattempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Indemnified Persons and their permitted successors and assigns) any legal or equitable right, remedy or claim under or by reason of this Agreement. (b) Any Lender may at any time assign and delegate to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Loans at the time owing to it); provided that (i) except in the case of an assignment of the entire remaining amount of the assigning Lender's Loans at the time owing to it or in the case of an assignment to a Lender or an Affiliate of a Lender or an Approved Fund (as defined in subsection (g) of this Section) with respect to a Lender, the aggregate amount of the Loans subject to each such assignment, determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Agent or, if "Trade Date" is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $1,000,000 unless each of the Agent and, so long as no Event of Default has occurred and is continuing, the Company otherwise consents (each such consent not to be unreasonably withheld or delayed); (ii) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender's rights and obligations under this Agreement with respect to the Loans assigned; (iii) any assignment of a Revolving Credit Loan or a Revolving Credit Commitment must be approved by the Agent unless the Person that is the proposed assignee is itself a Revolving Credit Lender (whether or not the proposed assignee would otherwise qualify as an Eligible Assignee); and (iv) the parties to each assignment shall execute and deliver to the Agent an Assignment and Assumption, together with a processing and recordation fee of $2,500 (which fee shall not, except in the case of an assignment pursuant to Section 3.07 (if such fee is not paid by the assignee), be payable by the Company); provided that no written consent of either Agent such fee shall be required payable in connection with the case of any assignment and delegation by a Bank Lender to an Affiliate or Approved Fund of such Lender; provided further that in the case of two or more concurrent assignments to two or more Eligible Assignees that are Affiliates of one another or two or more Approved Funds managed by the same investment advisor (in each case, collectively, an "Assignee Group") (which may be effected by a suballocation of an assigned amount among members of such Assignee Group) or two or more concurrent assignments by members of the same Assignee Group to a single Eligible Assignee (or to an Eligible Assignee that is an Affiliate and members of such Bank) (each an "Assignee") all, or any ratable part of all, of the Loansits Assignee Group), the Commitments and the other rights and obligations of such Bank hereunder, in a minimum amount of $5,000,000; provided, however, that (i) the Company and the Agents may continue to deal solely and directly with such Bank in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company and the Administrative Agent by such Bank and the Assignee; (B) such Bank and its Assignee shall have delivered to the Company and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E ("Assignment and Acceptance") together with any Note or Notes subject to such assignment and (C) the assignor Bank or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate fees payable with respect to such Specified Swap Contracts, with assignments and assumptions are set forth in Schedule 10.07(b) hereto. Subject to acceptance and recording thereof by the Agent pursuant to subsection (c) of this Section (but without prejudice to any right of the assigning Lender otherwise specified herein to make assignments hereunder without the consent of the Company. (b) From Agent), from and after the effective date that the Administrative Agent notifies the assignor Bank that it has received (and provided its consent and obtained the consent of the Documentation Agent) with respect to) an executed specified in each Assignment and Acceptance and payment of Assumption, the above-referenced processing fee, (i) the Eligible Assignee thereunder shall be a party hereto to this Agreement and, to the extent that rights and obligations hereunder have been of the interest assigned to it pursuant to by such Assignment and AcceptanceAssumption, shall have the rights and obligations of a Bank Lender under this Agreement (provided that, with respect to circumstances in effect on the Loan Documentseffective date of such Assignment and Assumption, an Eligible Assignee shall not be entitled to receive any greater payment under Section 3.01 than the applicable Lender would have been entitled to receive had the assignment not taken place), and (ii) the assignor Bank assigning Lender thereunder shall, to the extent that rights and obligations hereunder and under of the other Loan Documents have been interest assigned by it pursuant to such Assignment and AcceptanceAssumption, relinquish its rights and be released from its obligations under this Agreement (and, in the Loan Documentscase of an Assignment and Assumption covering all of the assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Section 3.01, Section 3.03, Section 3.04, Section 10.04 and Section 10.05 with respect to facts and circumstances occurring prior to the effective date of such assignment). Upon request, the Company (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with subsection (d) of this Section. (c) Within five Business Days after its receipt The Agent, acting solely for this purpose as an agent of notice by the Administrative Agent that it has received an executed Company, shall maintain at the Agent's Office a copy of each Assignment and Acceptance Assumption delivered to it and payment a register for the recordation of the processing feenames and addresses of the Lenders, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount amounts of the Loans retained owing to each Lender pursuant to the terms hereof from time to time (the "Register"). The entries in the Register shall be conclusive, and the Company, the Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the assignor Bank (such Notes Company and any Lender at any reasonable time and from time to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately time upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tantoreasonable prior notice. (d) Any Bank Lender may at any time time, without the consent of, or notice to, the Company or the Agent, sell participations to one any Person (other than a natural person or more commercial banks the Company or other Persons not Affiliates any of the Company Company's Subsidiaries) (each, a "Participant") participating interests in any Loans, all or a portion of such Lender's rights and/or obligations under this Agreement (including all or a portion of the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan DocumentsLoans owing to it); provided, however, provided that (i) the originating Banksuch Lender's obligations under this Agreement shall remain unchanged, (ii) the originating Bank such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, obligations and (iii) the Company Company, the Agent and the Agents other Lenders shall continue to deal solely and directly with the originating Bank such Lender in connection with the originating Banksuch Lender's rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and the other Loan Documentsto approve any amendment, and (iv) no Bank shall transfer modification or grant any participating interest under which the Participant has rights to 01. In the case waiver of any provision of this Agreement; provided that such participationagreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to Section 10.01 that directly affects such Participant. Subject to subsection (e) of this Section, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, agrees that each Participant shall be deemed entitled to have the right benefits of set-off in respect of its participating interest in amounts owing under this Agreement Section 3.01, Section 3.03, and Section 3.04 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section. To the amount extent permitted by law, each Participant also shall be entitled to the benefits of its participating interest Section 10.09 as though it were owing directly a Lender, provided such Participant agrees to be subject to Section 2.13 as though it as were a Bank under this AgreementLender. (e) Notwithstanding A Participant shall not be entitled to receive any other provision in this Agreementgreater payment under Section 3.01 or Section 3.03 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, any Bank unless the sale of the participation to such Participant is made with the Company's prior written consent. A Participant that is not a "United States person" within the meaning of Section 7701(a)(30) of the Code shall not be entitled to the benefits of Section 3.01 unless the Company is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Company, to comply with Section 9.12 as though it were a Lender. (f) Any Lender may at any time create pledge or assign a security interest in, or pledge, in all or any portion of its rights under and interest in this Agreement and the Note held by it in favor (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce Lender; provided that no such pledge or security interest in assignment shall release such Lender from any manner permitted under applicable lawof its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. (g) As used herein, the following terms have the following meanings:

Appears in 1 contract

Samples: Credit Agreement (Conseco Inc)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the AgentsAgent and the Borrower, which consents consent shall not be unreasonably withheldwithheld (except Borrower's consent shall not be required if (i) a Default or an Event of Default exists and is continuing, any other Bankand (ii) the Eligible Assignee is not engaged in the securities brokerage business or the investment advisory business), may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Agent shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitments, and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of $5,000,00010,000,000; provided, however, that (i) the Company and Borrower and, the Agents Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank Lender and the Assignee; (B) such Bank Lender and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E F ("Assignment and Acceptance") together with any Note or Notes subject to such assignment assignment; and (C) the assignor Bank Lender or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender and the Borrower that it has received (and the Borrower and the Agent have provided its their consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing fee, the Company shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans retained by the assignor Bank (such Notes to be in exchange for, but not in payment of, the Notes held by such Bank). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto. (d) Any Bank may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company (a "Participant") participating interests in any Loans, the Commitment of that Bank and the other interests of that Bank (the "originating Bank") hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank's obligations under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the Company and the Agents shall continue to deal solely and directly with the originating Bank in connection with the originating Bank's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank shall transfer or grant any participating interest under which the Participant has rights to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement. (e) Notwithstanding any other provision in this Agreement, any Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.

Appears in 1 contract

Samples: Credit Agreement (Schwab Charles Corp)

Assignments, Participations, etc. (a) Any Agent Lender may, and with the written consent of the AgentsAgent and the Borrower, which consents consent shall not be unreasonably withheldwithheld (except Borrower's consent shall not be required if (i) a Default or an Event of Default exists and is continuing, any other Bankand (ii) the Eligible Assignee is not engaged in the securities brokerage business or the investment advisory business), may at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of either the Agent shall be required in connection with any assignment and delegation by a Bank Lender to an Eligible Assignee that is an Affiliate of such BankLender) (each an "Assignee") all, or any ratable part of all, of the Loans, the Commitments Commitments, and the other rights and obligations of such Bank Lender hereunder, in a minimum amount of $5,000,00010,000,000; provided, however, that (i) the Company and Borrower and, the Agents Agent may continue to deal solely and directly with such Bank Lender in connection with the interest so assigned to an Assignee until (A) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Company Borrower and the Administrative Agent by such Bank Lender and the Assignee; (B) such Bank Lender and its Assignee shall have delivered to the Company Borrower and the Administrative Agent an Assignment and Acceptance in the form of Exhibit E D ("Assignment and Acceptance") together with any Note or Notes subject to such assignment assignment; and (C) the assignor Bank Lender or Assignee has paid to each the Administrative Agent a processing fee in the amount of its $[______________]; and (ii) if the assignor Bank or any of its Affiliates is a Swap Provider with respect to any Specified Swap Contract, such Bank shall not assign all of its interest in the 76 128 Loans and the Commitments to an Assignee unless such Assignee, or an Affiliate of such Assignee, shall also assume all obligations of such assignor Bank or Affiliate with respect to such Specified Swap Contracts, with the consent of the Company3,500. (b) From and after the date that the Administrative Agent notifies the assignor Bank Lender and the Borrower that it has received (and the Borrower and the Agent have provided its their consent and obtained the consent of the Documentation Agent) with respect to) an executed Assignment and Acceptance and payment of the above-above- referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Bank Lender under the Loan Documents, and (ii) the assignor Bank Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. (c) Within five Business Days after its receipt of notice by the Administrative Agent that it has received an executed Assignment and Acceptance and payment of the processing feefee (and provided that it consents to such assignment in accordance with subsection 10.8(a)), the Company Borrower shall execute and deliver to the Administrative Agent, new Notes evidencing such Assignee's assigned Loans and Commitment and, if the assignor Bank Lender has retained a portion of its Loans and its Commitment, replacement Notes in the principal amount of the Loans Commitment retained by the assignor Bank Lender (such Notes to be in exchange for, but not in payment of, the Notes held by such BankLender). Immediately upon each Assignee's making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Bank assignor Lender pro tanto. (d) Any Bank Lender may at any time sell to one or more commercial banks or other Persons not Affiliates of the Company Borrower (a "Participant") participating interests in any Loans, the Commitment of that Bank Lender and the other interests of that Bank Lender (the "originating BankLender") hereunder and under the other Loan Documents; provided, however, that (i) the originating BankLender's obligations under this Agreement shall remain unchanged, (ii) the originating Bank Lender shall remain solely responsible for the performance of such obligations, (iii) the Company Borrower, and the Agents Agent shall continue to deal solely and directly with the originating Bank Lender in connection with the originating BankLender's rights and obligations under this Agreement and the other Loan Documents, and (iv) no Bank Lender shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to 01. In the case of any such participation, the Participant shall not have any rights under this Agreement, or any consent or waiver with respect to, this Agreement or any other Loan Document. Any Lender that sells a participation to any Person that is a "foreign corporation, partnership or trust" within the meaning of the other Loan Documents, and all amounts payable Code shall include in its participation agreement with such Person a covenant by such Person that such Person will comply with the Company hereunder shall be determined provisions of Section 9.10 as if such Bank had not sold such participation; except that, if amounts outstanding under this Agreement are due Person were a Lender and unpaid, or shall have been declared or shall have become due provide that the Agent and payable upon the occurrence of an Event of Default, each Participant Borrower shall be deemed to have the right third party beneficiaries of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreementsuch covenant. (e) Notwithstanding any other provision in this Agreement, any Bank Lender may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement and the Note held by it in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section203.14ss.203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law. (f) Any Lender (a "Granting Lender") may, with notice to the Agent, grant to a special purpose funding vehicle (an "SPC") the option to fund all or any part of any Loan that such Granting Lender would otherwise be obligated to fund pursuant to this Agreement. The funding of a Loan by an SPC hereunder shall utilize the Revolving Credit Commitment of the Granting Lender to the same extent, and as if, such Loan were funded by such Granting Lender. Each party hereto hereby agrees that no SPC shall be liable for any indemnity or payment under this Agreement for which a Lender would otherwise be liable for so long as, and to the extent, the Granting Lender provides such indemnity or makes such payment. Notwithstanding anything to the contrary contained in the foregoing or anywhere else in this Agreement, (i) nothing herein shall constitute a commitment by any SPC to fund any Loan, (ii) if an SPC elects not to exercise such option or otherwise fails to fund all or any part of such Loan, the Granting Lender shall be obligated to fund such Loan pursuant to the terms hereof, and (iii) the Borrower and Agent shall continue to deal exclusively with the Granting Lender and any funding by an SPC hereunder shall not constitute an assignment, assumption or participation of any rights or obligations of the Granting Lender. Any SPC may disclose on a confidential basis any non-public information relating to its funding of Loans to any rating agency, commercial paper dealer or provider of any surety or guarantee to such SPC, provided, as a condition precedent to such disclosure, (A) such agency, dealer or provider has delivered to such Granting Lender for the benefit of Borrower a written confidentiality agreement substantially similar to Section 10.9, and (B) simultaneous with or prior to such disclosure, such Granting Lender has given written notice to Borrower of the agency, dealer or provider to which such disclosure is being made and the contents of such disclosure. This Section may not be amended without the prior written consent of each Granting Lender, all or any part of whose Loan is being funded by an SPC at the time of such amendment.

Appears in 1 contract

Samples: Credit Agreement (Schwab Charles Corp)

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