Borrower Assignment Clause Samples
The Borrower Assignment clause defines the conditions under which a borrower may transfer their rights and obligations under a loan agreement to another party. Typically, this clause outlines any required consents—such as lender approval—and may specify restrictions on assignment, such as prohibiting transfers to certain entities or under certain circumstances. Its core practical function is to control and manage the transferability of the borrower's position, ensuring that the lender retains oversight over who is responsible for repaying the loan and maintaining the integrity of the lending relationship.
Borrower Assignment. No Borrower shall assign this Agreement or any of its rights or obligations hereunder without the prior written consent of Agent and the Lenders, and any assignment in contravention of the foregoing shall be absolutely null and void.
Borrower Assignment. None of the Borrowers shall assign this Agreement or any of its rights or obligations hereunder without the prior written consent of the Agent and the Lenders.
Borrower Assignment. The Borrowers shall not assign this Credit Agreement or any rights or obligations hereunder, without the prior written consent of the Agent and the Lenders.
Borrower Assignment. Neither the Funds Administrator nor any of the other Credit Parties shall have any right to assign this Credit Agreement or any of the other Credit Documents, or any rights or obligations hereunder or thereunder, without the prior written consent of the Agent and the Lenders.
Borrower Assignment. The Borrower shall have no right to assign this Credit Agreement, or any rights or obligations hereunder, without the prior written consent of the Agent and the Lenders.
Borrower Assignment. No Borrower shall assign this Agreement or any of its rights or obligations hereunder without the prior written consent of Agent and the Lenders, and any assignment in contravention of the foregoing shall be absolutely null and void. Nothing in this Agreement, express 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, Affiliates of each of the Agent and the Lenders and other Indemnified Party) any legal or equitable right, remedy or claim under or by reason of this Agreement.
Borrower Assignment. Neither the Borrower nor any other Credit Party shall have the right to assign its rights or delegate its duties under this Agreement or any other Credit Document or any interest in this Agreement or any other Credit Document without the prior written consent of each Lender.
Borrower Assignment. Pursuant to and in accordance with Section 10.06(g) of the Credit Agreement, for an agreed consideration, the Initial Borrower hereby irrevocably assigns to the New Borrower, and the New Borrower hereby irrevocably assumes from the Initial Borrower, as of the Effective Date all of the debts, liabilities, obligations, covenants and duties of the Initial Borrower arising under the Loan Documents or otherwise with respect to any Advance or Letter of Credit. The New Borrower hereby becomes the “Borrower” for all purposes under the Credit Agreement and the other Loan Documents.
Borrower Assignment. No assignment of this Master Agreement, any other Transaction Document, or any right or Obligation hereunder or thereunder (including by operation of law), may be made by Borrower or any assignee of Borrower without the prior written consent of L▇▇▇▇▇.
Borrower Assignment. Borrower may not convey, assign, mortgage, pledge, transfer, hypothecate, encumber, or otherwise dispose of its rights or obligations under this Agreement, the other Loan Documents, or the Project Property without the prior written consent of Lender; except that Borrower may enter into rental agreements or leases for the residential units and commercial spaces located in the Project Property without the prior written consent of Lender. A breach of this provision, directly or indirectly, shall be an Event of Default and shall not vest any rights in the purported transferee.