Common use of Assignments; Third-Party Rights Clause in Contracts

Assignments; Third-Party Rights. No Borrower shall assign this Agreement, or delegate any of its obligations hereunder, without the prior written consent of Lender. Lender may assign its rights and/or obligations under this Agreement separately or together, without Borrower’s consent, only to Xxxxxx Mae or other entity if such assignment is made with the intent that such entity will further assign such rights to Xxxxxx Xxx, but may not delegate its obligations under this Agreement unless it first receives Xxxxxx Mae’s written approval. Lender shall first assign its rights under this Agreement separately or together, without Borrower’s consent, to Xxxxxx Xxx. Upon assignment to Xxxxxx Mae, Xxxxxx Xxx shall be permitted to further assign its rights under this Agreement separately or together, without Borrower’s consent.

Appears in 2 contracts

Samples: Master Credit Facility Agreement (Education Realty Trust, Inc.), Master Credit Facility Agreement (Senior Housing Properties Trust)

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Assignments; Third-Party Rights. No Borrower shall assign this Agreement, or delegate any of its obligations hereunder, without the prior written consent of Lender. Lender may assign its rights and/or obligations under this Agreement separately or together, without Borrower’s consent, only to Xxxxxx Mae or other entity if such assignment is made with the intent that such entity will further assign such rights to Xxxxxx Xxx, but may not delegate its obligations under this Agreement unless it first receives Xxxxxx Mae’s written approval. Lender shall first assign its rights under this Agreement separately or together, without Borrower’s consent, to Xxxxxx Xxx. Upon assignment to Xxxxxx Mae, Xxxxxx Xxx shall be permitted to further assign its rights under this Agreement separately or together, without Borrower’s consent. .

Appears in 1 contract

Samples: Master Credit Facility Agreement (Education Realty Trust, Inc.)

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Assignments; Third-Party Rights. No Borrower shall not assign this Agreement, or delegate any of its obligations hereunder, without the prior written consent of Lender. Subject to Section 15.21, Lender may assign its rights and/or and obligations under this Agreement separately or together, without Borrower’s consent, only to Xxxxxx Mae or other entity if such assignment is made with the intent that such entity will further assign such rights and obligations to Xxxxxx Xxx, but may not delegate its obligations under this Agreement unless it first receives Xxxxxx Mae’s written approval. Lender shall first assign its rights under this Agreement separately or together, without Borrower’s consent, to Xxxxxx Xxx. Upon assignment to Xxxxxx MaeXxx, subject to Section 15.21, Xxxxxx Xxx Mae shall be permitted to further assign its rights and obligations under this Agreement separately Agreement. Xxxxxx Xxx shall be permitted to hold, sell or together, securitize Advances made hereunder without Borrower’s consent.

Appears in 1 contract

Samples: Master Credit Facility Agreement (Newcastle Investment Corp)

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