We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Common use of Bank Commitment Clause in Contracts

Bank Commitment. At any time on or prior to the Commitment Termination Date, in the event that a Conduit Investor does not effect an Incremental Transfer as requested under Section 2.2(a), then at any time, the Transferor shall have the right to require such Conduit Investor to assign its interest in the Net Investment in whole to the Bank Investors in its Related Group pursuant to this Section 9.7. In addition, at any time on or prior to the Commitment Termination Date, (i) upon the occurrence of a Termination Event that results in the Termination Date or (ii) if a Conduit Investor elects to give notice to the Transferor of a Reinvestment Termination Date, the Transferor hereby requests and directs that such Conduit Investor assign its interest in the Net Investment in whole to the Bank Investors in its Related Group pursuant to this Section 9.7 and the Transferor hereby agrees to pay the amounts described in Section 9.7(d) below. Provided that the Net Asset Test is satisfied, upon any such election by a Conduit Investor or any such request by the Transferor to such Conduit Investor, such Conduit Investor shall make such assignment and the Bank Investors in its Related Group shall accept such assignment and shall assume all of such Conduit Investor's obligations hereunder. In connection with any assignment from a Conduit Investor to the Bank Investors in its Related Group pursuant to this Section 9.7, each Bank Investor shall, on the date of such assignment, pay to such Conduit Investor an amount equal to its Assignment Amount. Upon any assignment by a Conduit Investor to the Bank Investors in its Related Group as contemplated hereunder, such Conduit Investor shall cease to make any additional Incremental Transfers hereunder.

Appears in 2 contracts

Samples: Transfer and Administration Agreement (Fresenius Medical Care Corp), Transfer and Administration Agreement (Fresenius Medical Care Holdings Inc /Ny/)

Bank Commitment. At any time on or prior to the Commitment Termination Date, in the event that a Conduit Investor does not effect an Incremental Transfer as requested under Section 2.2(a), then at any time, the Transferor shall have the right to require such Conduit Investor to assign its interest in the Net Investment in whole 53 to the Bank Investors in its Related Group pursuant to this Section 9.7. In addition, at any time on or prior to the Commitment Termination Date, (i) upon the occurrence of a Termination Event that results in the Termination Date or (ii) if a Conduit Investor elects to give notice to the Transferor of a Reinvestment Termination Date, the Transferor hereby requests and directs that such Conduit Investor assign its interest in the Net Investment in whole to the Bank Investors in its Related Group pursuant to this Section 9.7 and the Transferor hereby agrees to pay the amounts described in Section 9.7(d) below. Provided that the Net Asset Test is satisfied, upon any such election by a Conduit Investor or any such request by the Transferor to such Conduit Investor, such Conduit Investor shall make such assignment and the Bank Investors in its Related Group shall accept such assignment and shall assume all of such Conduit Investor's ’s obligations hereunder. In connection with any assignment from a Conduit Investor to the Bank Investors in its Related Group pursuant to this Section 9.7, each Bank Investor shall, on the date of such assignment, pay to such Conduit Investor an amount equal to its Assignment Amount. Upon any assignment by a Conduit Investor to the Bank Investors in its Related Group as contemplated hereunder, such Conduit Investor shall cease to make any additional Incremental Transfers hereunder.

Appears in 2 contracts

Samples: Transfer and Administration Agreement (Fresenius Medical Care AG & Co. KGaA), Transfer and Administration Agreement (Fresenius Medical Care AG & Co. KGaA)

Bank Commitment. At any time on or prior to the Commitment Termination Date, in the event that a Conduit Investor does not effect an Incremental Transfer as requested under Section 2.2(a), then at any time, the Transferor shall have the right to require such Conduit Investor to assign its interest in the Net Investment in whole to the Class A Bank Investors in its Related Group pursuant to this Section 9.7. In addition, at any time on or prior to the Commitment Termination Date, (i) upon the occurrence of a Termination Event that results in the Termination Date or (ii) if a Conduit Investor elects to give notice to the Transferor of a Reinvestment Termination Date, the Transferor hereby requests and directs that such Conduit Investor assign its interest in the Net Investment in whole to the Class A Bank Investors in its Related Group pursuant to this Section 9.7 and the Transferor hereby agrees to pay the amounts described in Section 9.7(d) below. Provided that the Net Asset Test is satisfied, upon any such election by a Conduit Investor or any such request by the Transferor to such Conduit Investor, such Conduit Investor shall make such assignment and the Class A Bank Investors in its Related Group shall accept such assignment and shall assume all of such Conduit Investor's obligations hereunder. In connection with any assignment from a Conduit Investor to the Class A Bank Investors in its Related Group pursuant to this Section 9.7, each Class A Bank Investor shall, on the date of such assignment, pay to such Conduit Investor an amount equal to its Assignment Amount. Upon any assignment by a Conduit Investor to the Class A Bank Investors in its Related Group as contemplated hereunder, such Conduit Investor shall cease to make any additional Incremental Transfers hereunder.

Appears in 1 contract

Samples: Transfer and Administration Agreement (Fresenius Medical Care Holdings Inc /Ny/)

Bank Commitment. At any time on or prior to the Commitment Termination Date, in the event that a Conduit Investor the Purchaser does not effect an Incremental Transfer a Purchase as requested under Section 2.2(a), SECTION 2.1 then at any time, the Transferor shall have the right to require such Conduit Investor the Purchaser to assign its interest in the Net Aggregate Purchaser's Investment in whole to the Bank Investors in its Related Group pursuant to this Section 9.7SECTION 13.5. In addition, at any time on or prior to the Commitment Termination Date, Date (i) upon the occurrence of a Termination Event that results in the Commitment Termination Date or (ii) if a Conduit Investor the Purchaser elects to give notice to the Transferor of a Reinvestment Termination Date, the Transferor hereby requests and directs that such Conduit Investor the Purchaser assign its interest in the Net Aggregate Purchaser's Investment in whole to the Bank Investors in its Related Group pursuant to this Section 9.7 SECTION 13.5 and the Transferor hereby agrees to pay the amounts described in Section 9.7(dSECTION 13.6(D) below. Provided that the Net Asset Test is satisfied, upon any such election by a Conduit Investor the Purchaser or any such request by the Transferor to such Conduit InvestorTransferor, such Conduit Investor the Purchaser shall make such assignment and the Bank Investors in its Related Group shall accept such assignment and shall assume all of such Conduit Investorthe Purchaser's obligations hereunder. In connection with any assignment from a Conduit Investor the Purchaser to the Bank Investors in its Related Group pursuant to this Section 9.7SECTION 13.5, each Bank Investor shall, on the date of such assignment, pay to such Conduit Investor the Purchaser an amount equal to its Assignment Amount. Upon any assignment by a Conduit Investor the Purchaser to the Bank Investors in its Related Group as contemplated hereunder, such Conduit Investor the Purchaser shall cease to make any additional Incremental Transfers Purchases hereunder.

Appears in 1 contract

Samples: Transfer and Administration Agreement (Wackenhut Corp)

Bank Commitment. At any time on or prior to the Commitment Termination Date, in the event that a Conduit Investor the Company does not effect an Incremental Transfer make a Subsequent Funding as requested under Section 2.2(a)2.1, then at any time, the Transferor Issuer shall have the right to require such Conduit Investor the Company to assign its interest in the Net Investment Note in whole to the Bank Investors in its Related Group pursuant to this Section 9.75.7. In addition, at any time on or prior to the Commitment Termination Date, Date (i) upon the occurrence of a Termination Event, or a Wind-Down Event that results in or the Termination Date or (ii) if a Conduit Investor the Company elects to give notice to the Transferor Issuer of a Reinvestment an Advance Termination Date, the Transferor Issuer hereby requests and directs that such Conduit Investor the Company assign its interest in the Net Investment Note in whole to the Bank Investors in its Related Group pursuant to this Section 9.7 5.7 and the Transferor Issuer hereby agrees to pay the amounts described in Section 9.7(d5.7(d) below. Provided that (i) the Net Asset Test is satisfiedsatisfied and (ii) the Issuer shall have paid to the Company all amounts due as described in Section 5.7(d) hereof, upon any such election by a Conduit Investor the Company or any such request by the Transferor to such Conduit InvestorIssuer, such Conduit Investor the Company shall make such assignment and the Bank Investors in its Related Group shall accept such assignment and shall assume all of such Conduit Investorthe Company's obligations hereunder. In connection with any assignment from a Conduit Investor the Company to the Bank Investors in its Related Group pursuant to this Section 9.75.7, each Bank Investor shall, on the date of such assignment, pay to such Conduit Investor the Company an amount equal to its Assignment Amount. In addition, at any time on or prior to the Commitment Termination Date the Issuer shall have the right to request funding under this Agreement directly from the Bank Investors provided that at such time all conditions precedent set forth herein and in the Security Agreement for a Subsequent Funding shall be satisfied and provided further that in connection with such funding by the Bank Investors, the Bank Investors accept the assignment of the Note from the Company and assume all of the Company's obligations hereunder concurrently with or prior to any such Subsequent Funding. Upon any assignment by a Conduit Investor the Company to the Bank Investors in its Related Group as contemplated hereunder, such Conduit Investor the Company shall cease to make any additional Incremental Transfers further advances to the Issuer hereunder.

Appears in 1 contract

Samples: Note Purchase Agreement (Union Acceptance Corp)