Common use of Concerning the Collateral and the Collateral Documents Clause in Contracts

Concerning the Collateral and the Collateral Documents. In the event of the sale of any participation by any Lender, (w) such Lender’s obligations under the Loan Documents shall remain unchanged, (x) such Lender shall remain solely responsible to the other parties for the performance of such obligations, (y) such Lender shall remain the holder of such Obligations for all purposes of this Agreement and (z) the Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Each participant shall be entitled to the benefits of Sections 2.15 (Capital Adequacy) and 2.16 (Taxes) and of 2.14(d) (Illegality) as if it were a Lender; provided, however, that anything herein to the contrary notwithstanding, the Borrower shall not, at any time, be obligated to make under Section 2.15 (Capital Adequacy), 2.16 (Taxes) or 2.14(d) (Illegality) to the participants in the rights and obligations of any Lender (together with such Lender) any payment in excess of the amount the Borrower would have been obligated to pay to such Lender in respect of such interest had such participation not been sold; provided, further, that such participant in the rights and obligations of such Lender shall have no direct right to enforce any of the terms of this Agreement against the Borrower, the Administrative Agent or the other Lenders.

Appears in 4 contracts

Samples: Credit Agreement (Knology Inc), Credit Agreement (Knology Inc), Credit Agreement (Knology Inc)

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Concerning the Collateral and the Collateral Documents. In the event of the sale of any participation by any LenderLC Participant, (w) such LenderLC Participant’s obligations under the Loan LC Facility Documents shall remain unchanged, (x) such Lender LC Participant shall remain solely responsible to the other parties for the performance of such obligations, (y) such Lender LC Participant shall remain the holder of such Obligations for all purposes of this Agreement and (z) the BorrowerCompany, the Administrative Agent and the other Lenders LC Participants shall continue to deal solely and directly with such Lender LC Participant in connection with such LenderLC Participant’s rights and obligations under this Agreement. Each participant Participant shall be entitled to the benefits of Sections 2.15 (Capital Adequacy) and 2.16 (Taxes) (subject to the requirements and limitations of 2.14(dsuch Sections, it being understood that any documentation required to be provided under Section 2.16(f) (Illegalityshall be provided to such LC Participant) as if it were a Lenderan LC Participant; provided, however, that anything herein to the contrary notwithstanding, the Borrower no Participant shall not, at be entitled to receive any time, be obligated to make greater payment under Section 2.15 (Capital Adequacy), ) or 2.16 (Taxes) or 2.14(d) (Illegality) to the participants in the rights and obligations of any Lender (together with than such Lender) any payment in excess of the amount the Borrower LC Participant would have been obligated entitled to pay receive with respect to the participation sold to such Lender Participant, except to the extent such entitlement to a greater payment results from a Change in respect of such interest had such participation not been sold; provided, further, that such participant in Law after the rights and obligations of such Lender shall have no direct right to enforce any sale of the terms of this Agreement against the Borrower, the Administrative Agent or the other Lendersparticipation takes place.

Appears in 2 contracts

Samples: 6 (Tenet Healthcare Corp), Credit Facility Agreement (Tenet Healthcare Corp)

Concerning the Collateral and the Collateral Documents. In the event of the sale of any participation by any Lender, (w) such Lender’s obligations under the Loan Documents shall remain unchanged, (x) such Lender shall remain solely responsible to the other parties for the performance of such obligations, (y) such Lender shall remain the holder of such Obligations for all purposes of this Agreement and (z) the Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Each participant shall be entitled to the benefits of Sections 2.15 2.14 (Capital Adequacy) and 2.16 ), 2.15 (Taxes) (to the extent that such participant complies with the provisions of such section) and of 2.14(d2.13(d) (Illegality) as if it were a Lender; provided, however, that anything herein to the contrary notwithstanding, the Borrower shall not, at any time, be obligated to make under Section 2.15 2.14 (Capital Adequacy), 2.16 2.15 (Taxes) or 2.14(d2.13(d) (Illegality) to the participants in the rights and obligations of any Lender (together with such Lender) any payment in excess of the amount the Borrower would have been obligated to pay to such Lender in respect of such interest had such participation not been sold; and provided, further, that such participant in the rights and obligations of such Lender shall have no direct right to enforce any of the terms of this Agreement against the Borrower, the Administrative Agent or the other Lenders.

Appears in 1 contract

Samples: Credit Agreement (GLG Partners, Inc.)

Concerning the Collateral and the Collateral Documents. Releases). In the event of the sale of any participation by any Lender, (w) such Lender’s obligations under the Loan Documents shall remain unchanged, (x) such Lender shall remain solely responsible to the other parties for the performance of such obligations, (y) such Lender shall remain the holder of such Obligations for all purposes of this Agreement and (z) the Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Each participant shall be entitled to the benefits of Sections 2.15 2.13 (Capital Adequacy) and 2.16 2.14 (Taxes) and of 2.14(d2.12(d) (Illegality) as if it were a Lender; provided, however, that anything herein to the contrary notwithstanding, the Borrower shall not, at any time, be obligated to make under Section 2.15 2.13 (Capital Adequacy), 2.16 2.14 (Taxes) or 2.14(d2.12(d) (Illegality) to the participants in the rights and obligations of any Lender (together with such Lender) any payment in excess of the amount the Borrower would have been obligated to pay to such Lender in respect of such interest had such participation not been sold; sold and provided, further, that such participant in the rights and obligations of such Lender shall have no direct right to enforce any of the terms of this Agreement against the Borrower, the Administrative Agent or the other Lenders.

Appears in 1 contract

Samples: Pledge and Security Agreement (Collective Brands, Inc.)

Concerning the Collateral and the Collateral Documents. In the event of the sale of any participation by any Lender, (w) such Lender’s obligations under the Loan Documents shall remain unchanged, (x) such Lender shall remain solely responsible to the other parties for the performance of such obligations, (y) such Lender shall remain the holder of such Obligations for all purposes of this Agreement and (z) the Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Each participant shall be entitled to the benefits of Sections 2.15 (Capital Adequacy) and 2.16 (Taxes) and of 2.14(d) (Illegality) as if it were a Lender; provided, however, that anything herein to the contrary notwithstanding, the Borrower shall not, at any time, be obligated to make under Section 2.15 2.12 (Capital Adequacy), 2.16 2.13 (Taxes) or 2.14(d2.11(d) (Illegality) to the participants in the rights and obligations of any Lender (together with such Lender) any payment in excess of the amount the Borrower would have been obligated to pay to such Lender in respect of such interest had such participation not been sold; provided, further, that such participant in the rights and obligations of such Lender shall have no direct right to enforce any of the terms of this Agreement against the Borrower, the Administrative Agent or the other Lenders.

Appears in 1 contract

Samples: Credit Agreement (Knology Inc)

Concerning the Collateral and the Collateral Documents. In the event of the sale of any participation by any Lender, (w) such Lender’s obligations under the Loan Documents shall remain unchanged, (x) such Lender shall remain solely responsible to the other parties for the performance of such obligations, (y) such Lender shall remain the holder of such Obligations for all purposes of this Agreement and (z) the Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Each participant shall be entitled to the benefits of Sections 2.15 Section 2.14 (Capital Adequacy) and 2.16 ), Section 2.15 (Taxes), Section 2.13(c) (Increased Costs) and of 2.14(d) Section 11.6 (Illegality) Right of Set-off), in each case as if it were a Lender; provided, however, that anything herein to the contrary notwithstanding, the Borrower shall not, at any time, be obligated to make under Section 2.15 2.14 (Capital Adequacy), 2.16 Section 2.15 (Taxes) or 2.14(dSection 2.13(c) (IllegalityIncreased Costs) to the participants in the rights and obligations of any Lender (together with such Lender) any payment in excess of the amount the Borrower would have been obligated to pay to such Lender in respect of such interest had such participation not been sold; provided, further, that such participant in the rights and obligations of such Lender shall have no direct right to enforce any of the terms of this Agreement against the Borrower, the Administrative Agent or the other Lenders.

Appears in 1 contract

Samples: Credit Agreement (Alaris Medical Systems Inc)

Concerning the Collateral and the Collateral Documents. In the event of the sale of any participation by any Lender, (w) such Lender’s obligations under the Loan Documents shall remain unchanged, (x) such Lender shall remain solely responsible to the other parties for the performance of such obligations, (y) such Lender shall remain the holder of such Obligations for all purposes of this Agreement and (z) the Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Each participant shall be entitled to the benefits of Sections 2.15 (Capital Adequacy) and 2.16 (Taxes) and of Section 2.14(d) (Illegality) as if it were a Lender; provided, however, that anything herein to the contrary notwithstanding, the Borrower shall not, at any time, be obligated to make under Section 2.15 (Capital Adequacy), 2.16 (Taxes) or 2.14(d) (Illegality) to the participants in the rights and obligations of any Lender (together with such Lender) any payment in excess of the amount the Borrower would have been obligated to pay to such Lender in respect of such interest had such participation not been sold; and provided, further, that such participant in the rights and obligations of such Lender shall have no direct right to enforce any of the terms of this Agreement against the Borrower, the Administrative Agent or the other Lenders.

Appears in 1 contract

Samples: Credit Agreement (Tekni Plex Inc)

Concerning the Collateral and the Collateral Documents. In the event of the sale of any participation by any Lender, (w) such Lender’s obligations under the Loan Documents shall remain unchanged, (x) such Lender shall remain solely responsible to the other parties for the performance of such obligations, (y) such Lender shall remain the holder of such Obligations for all purposes of this Agreement and (z) the Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Each participant shall be entitled to the benefits of Sections 2.15 2.13 (Capital Adequacy) and 2.16 2.14 (Taxes) and of 2.14(dSection 2.12(d) (Illegality) as if it were a Lender; provided, however, that anything herein to the contrary notwithstanding, the Borrower shall not, at any time, be obligated to make under Section 2.15 2.13 (Capital Adequacy), 2.16 2.14 (Taxes) or 2.14(d2.12(d) (Illegality) to the participants in the rights and obligations of any Lender (together with such Lender) any payment in excess of the amount the Borrower would have been obligated to pay to such Lender in respect of such interest had such participation not been sold; and provided, further, that such participant in the rights and obligations of such Lender shall have no direct right to enforce any of the terms of this Agreement against the Borrower, the Administrative Agent or the any other LendersSecured Party.

Appears in 1 contract

Samples: Second Lien Credit Agreement (Geologistics Corp)

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Concerning the Collateral and the Collateral Documents. In the event of the sale of any participation by any Lender, (wA) such Lender’s 's obligations under the Loan Documents shall remain unchanged, (xB) such Lender shall remain solely responsible to the other parties for the performance of such obligations, (yC) such Lender shall remain the holder of such Obligations for all purposes of this Agreement and (zD) the BorrowerBorrowers, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s 's rights and obligations under this Agreement. Each participant shall be entitled to the benefits of Sections Section 2.14(d) (Illegality), Section 2.15 (Capital Adequacy) and Section 2.16 (Taxes) and of 2.14(d) (Illegality) as if it were a Lender; provided, however, that anything herein to the contrary notwithstanding, the no Borrower shall notshall, at any time, be obligated to make under Section 2.14(d) (Illegality), Section 2.15 (Capital Adequacy), ) or Section 2.16 (Taxes) or 2.14(d) (Illegality) to the participants in the rights and obligations of any Lender (together with such Lender) any payment in excess of the amount the such Borrower would have been obligated to pay to such Lender in respect of such interest had such participation not been sold; provided, further, that such participant in the rights and obligations of such Lender shall have no direct right to enforce any of the terms of this Agreement against the Borrower, the Administrative Agent or the other Lenders.

Appears in 1 contract

Samples: Credit Agreement (Suntek Corp)

Concerning the Collateral and the Collateral Documents. In the event of the sale of any participation by any Lender, (w) such Lender’s obligations under the Loan Documents shall remain unchanged, (x) such Lender shall remain solely responsible to the other parties for the performance of such obligations, (y) such Lender shall remain the holder of such Obligations for all purposes of this Agreement and (z) the Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Each participant shall be entitled to the benefits of Sections 2.15 (Capital Adequacy) and 2.16 (Taxes) and of 2.14(d) (Illegality) as if it were a Lender; provided, however, that anything herein to the contrary notwithstanding, the Borrower shall not, at any time, be obligated to make under Section 2.15 (Capital Adequacy), 2.16 (Taxes) or 2.14(d) (Illegality) to the participants in the rights and obligations of any Lender (together with such Lender) any payment in excess of the amount the Borrower would have been obligated to pay to such Lender in respect of such interest had such participation not been sold; sold and provided, further, that such participant in the rights and obligations of such Lender shall have no direct right to enforce any of the terms of this Agreement against the Borrower, the Administrative Agent or the other Lenders.

Appears in 1 contract

Samples: Credit Agreement (Orbital Sciences Corp /De/)

Concerning the Collateral and the Collateral Documents. In the event of the sale of any participation by any Lender, (w) such Lender’s obligations under the Loan Documents shall remain unchanged, (x) such Lender shall remain solely responsible to the other parties for the performance of such obligations, (y) such Lender shall remain the holder of such Obligations for all purposes of this Agreement and (z) the Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Each participant shall be entitled to the benefits of Sections Section 2.14(c)(Increased Costs), (d) (Illegality), (e) (Breakage Costs), 2.15 (Capital Adequacy) and 2.16 (Taxes) and of 2.14(d) (Illegality) as if it were a Lender; provided, however, that anything herein to the contrary notwithstanding, the Borrower shall not, at any time, be obligated to make under Section 2.14(d) (Illegality), 2.15 (Capital Adequacy), ) or 2.16 (Taxes) or 2.14(d) (Illegality) to the participants in the rights and obligations of any Lender (together with such Lender) any payment in excess of the amount the Borrower would have been obligated to pay to such Lender in respect of such interest had such participation not been sold; provided, further, that such participant in the rights and obligations of such Lender shall have no direct right to enforce any of the terms of this Agreement against the Borrower, the Administrative Agent or the other Lenders.

Appears in 1 contract

Samples: Credit Agreement (Johnsondiversey Holdings Inc)

Concerning the Collateral and the Collateral Documents. In the event of the sale of any participation by any such Lender, (w) such Lender’s 's obligations under the Loan Documents shall remain unchanged, (x) such Lender shall remain solely responsible to the other parties for the performance of such obligations, (y) such Lender shall remain the holder of such Obligations for all purposes of this Agreement and (z) the Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s 's rights and obligations under this Agreement. Each participant shall be entitled to the benefits of Sections 2.14(d) (Illegality), 2.15 (Capital Adequacy) and 2.16 (Taxes) and of 2.14(d) (Illegality) as if it were a Lender; provided, however, that anything herein to the contrary notwithstanding, the Borrower shall not, at any time, be obligated to make under Section 2.14(d) (Illegality), 2.15 (Capital Adequacy), ) or 2.16 (Taxes) or 2.14(d) (Illegality) to the participants in the rights and obligations of any Lender (together with such Lender) any payment in excess of the amount the Borrower would have been obligated to pay to such Lender in respect of such interest had such participation not been sold; provided. In the event that any Lender sells participations in accordance with this Section 11.2(g), further, that such participant Lender shall maintain a register on which it enters the name of all participants in the its rights and obligations under the Loan Documents (the "Participant Register"). Any participation of such Lender shall have no direct right to enforce any Lender's rights and obligations under the Loan Documents may be effected only by the registration of such participation on the terms of this Agreement against the Borrower, the Administrative Agent or the other LendersParticipant Register.

Appears in 1 contract

Samples: Credit Agreement (Washington Group International Inc)

Concerning the Collateral and the Collateral Documents. In the event of the sale of any participation by any Lender, (w) such Lender’s obligations under the Loan Documents shall remain unchanged, (x) such Lender shall remain solely responsible to the other parties for the performance of such obligations, (y) such Lender shall remain the holder of such Obligations for all purposes of this Agreement and (z) the Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Each participant shall be entitled to the benefits of Sections 2.15 Section 4.21(g) (Illegality), Section 4.22 (Increased Costs and Capital Adequacy) and 2.16 Section 4.23 (Taxes) and of 2.14(d) (Illegality) as if it were a Lender; provided, however, that anything herein to the contrary notwithstanding, the Borrower shall not, at any time, be obligated to make any payment under Section 2.15 (Capital Adequacy), 2.16 (Taxes) or 2.14(d4.21(g) (Illegality), Section 4.22 (Increased Costs and Capital Adequacy) or Section 4.23 (Taxes) to the participants in the rights and obligations of any Lender (together with such Lender) any payment in excess of the amount the Borrower would have been obligated to pay to such Lender in respect of such interest had such participation not been soldsold (i) except to the extent such entitlement to receive any greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation or (ii) unless the sale of the participation to such Participant is made with the Borrower’s prior written consent to such greater payments; provided, further, that such participant in the rights and obligations of such Lender shall have no direct right to enforce any of the terms of this Agreement against the Borrower, the Administrative Agent or the other Lenders.

Appears in 1 contract

Samples: Credit Agreement (Amc Entertainment Inc)

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