Common use of Collateral Assignment of Loan Documents Clause in Contracts

Collateral Assignment of Loan Documents. Lender shall have the right to collaterally assign all of its rights under this Agreement and the other Loan Documents to the third party beneficiaries described in Section 8.7. Lender shall have the right to disclose in confidence such financial information regarding Borrower as may be necessary to complete any such assignment or attempted assignment, including without limitation, all financial statements, projections, internal memoranda, audits, reports, payment history, appraisals and any and all other information and documentation in Lender's files relating to Borrower. This authorization shall be irrevocable in favor of Lender, and Borrower waives any claims against Lender or the party receiving information from Lender regarding disclosure of information in Lender's files, and further waive any alleged damages which may result from such disclosure. Borrower acknowledges that Lender intends to make a collateral assignment of its rights under this Agreement and the Loan Documents for the benefit of one or more of its or its parent company's lenders and will not be authorized to amend or modify this Agreement or the Loan Documents, or grant waivers of any of its rights thereunder without the prior written consent of some or all of such lenders.

Collateral Assignment of Loan Documents. Lender shall have the right to collaterally assign all of its rights under this Agreement and the other Loan Documents to the third party beneficiaries described in Section 8.77.7. Lender shall have the right to disclose in confidence such financial information regarding Borrower as may be necessary to complete any such assignment or attempted assignment, including without limitation, all financial statements, projections, internal memoranda, audits, reports, payment history, appraisals and any and all other information and documentation in Lender's files relating to Borrower. This authorization shall be irrevocable in favor of Lender, and Borrower waives any claims against Lender or the party receiving information from Lender regarding disclosure of information in Lender's files, and further waive any alleged damages which may result from such disclosure. Borrower acknowledges that Lender intends to make a collateral assignment of its rights under this Agreement and the Loan Documents for the benefit of one or more of its or its parent company's lenders and will not be authorized to amend or modify this Agreement or the Loan Documents, or grant waivers of any of its rights thereunder without the prior written consent of some or all of such lenders.