Common use of Certain Assignees Clause in Contracts

Certain Assignees. No assignment or participation may be made to an Obligor, Affiliate of an Obligor, Defaulting Lender or natural person. So long as no Default or Event of Default has occurred and is continuing, no assignment or participation may be made to any Person that is a direct commercial competitor of the Obligors. Any assignment by a Defaulting Lender shall be effective only upon payment by the Eligible Assignee or Defaulting Lender to Agent of an aggregate amount sufficient, upon distribution (through direct payment, purchases of participations or other compensating actions as Agent deems appropriate), to satisfy all funding and payment liabilities then owing by the Defaulting Lender hereunder. If an assignment by a Defaulting Lender shall become effective under Applicable Law for any reason without compliance with the foregoing sentence, then the assignee shall be deemed a Defaulting Lender for all purposes until such compliance occurs.

Certain Assignees. No assignment or participation may be made to an Obligor, Affiliate of an Obligor, Defaulting Lender or natural person. So long as Agent shall have no Default or Event of Default has occurred and obligation to determine whether any assignee is continuing, no assignment or participation may be made to any Person that is a direct commercial competitor of permitted under the ObligorsLoan Documents. Any assignment by a Defaulting Lender shall be effective only upon payment by the Eligible Assignee or Defaulting Lender to Agent of an aggregate amount sufficient, upon distribution (through direct payment, purchases of participations or other compensating actions as Agent deems appropriate), to satisfy all funding and payment liabilities then owing by the Defaulting Lender hereunder. If an assignment by a Defaulting Lender shall become effective under Applicable Law for any reason without compliance with the foregoing sentence, then the assignee shall be deemed a Defaulting Lender for all purposes until such compliance occurs.

Certain Assignees. No assignment or participation may be made to an Obligora Borrower, Affiliate of an Obligora Borrower, Disqualified Institution, Defaulting Lender or natural person. So long as no Default or Event of Default has occurred and is continuing, no assignment or participation may be made to In connection with any Person that is a direct commercial competitor of the Obligors. Any assignment by a Defaulting Lender Lender, such assignment shall only be effective only upon payment by the Eligible Assignee or Defaulting Lender to the Agent of an aggregate amount sufficient, upon distribution (through direct payment, purchases of participations or subparticipations, or other compensating actions as the Agent deems appropriate), (a) to satisfy all funding and payment liabilities then owing by the Defaulting Lender hereunder, and (b) to acquire its Pro Rata share of all Revolver Loans and LC Obligations. If an assignment by a Defaulting Lender shall become effective under Applicable Law for any reason without compliance with the foregoing sentence, then the assignee shall be deemed a Defaulting Lender for all purposes until such compliance occurs.

Certain Assignees. No assignment or participation may be made to an (a) a Borrower or other Obligor, (b) an Affiliate of an a Borrower or other Obligor, (c) a Defaulting Lender or a natural person. So long as no Default person(or any of its Subsidiaries) or Event of Default has occurred and is continuingother Person who, no assignment or participation may be made to upon becoming a Lender hereunder, would constitute any Person that is a direct commercial competitor of the Obligorsforegoing Persons described in this clause (c) or (d) or a natural person (or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of one or more natural Persons). Any assignment by a Defaulting Lender shall be effective only upon payment by the Eligible Assignee or Defaulting Lender to Agent of an aggregate amount sufficient, upon distribution (through direct payment, purchases of participations or other compensating actions as Agent deems appropriate), to satisfy all funding and payment liabilities then owing by the such Defaulting Lender hereunder. If an assignment by a Defaulting Lender shall become effective under Applicable Law for any reason without compliance with the foregoing sentence, then the assignee shall be deemed a Defaulting Lender for all purposes until such compliance occurs.

Certain Assignees. No assignment or participation may be made to an Obligor, Affiliate of an Obligor, Defaulting Lender or natural person. So long as Agent shall have no Default or Event of Default has occurred and obligation to determine whether any assignment is continuing, no assignment or participation may be made to any Person that is a direct commercial competitor of permitted under the ObligorsLoan Documents. Any assignment by a Defaulting Lender shall be effective only upon payment by the Eligible Assignee or Defaulting Lender to Agent of an aggregate amount sufficient, upon distribution (through direct payment, purchases of participations or other compensating actions as Agent deems appropriate), to satisfy all funding and payment liabilities then owing by the Defaulting Lender hereunder. If an assignment by a Defaulting Lender shall become effective under Applicable Law for any reason without compliance with the foregoing sentence, then the assignee shall be deemed a Defaulting Lender for all purposes until such compliance occurs.