Common use of Consents and Undertaking Clause in Contracts

Consents and Undertaking. The Administrative Agent and the Borrower hereby consent to the assignment made herein, and the Borrower undertakes within five (5) Business Days from the Assignment Date to provide new Notes to the Administrative Agent, for the benefit of the Assignee and the Assignor, as appropriate to reflect the portion of the Commitment held by each of the Assignee and the Assignor after giving effect to the assignment contemplated by this Agreement. The Assignor agrees on the Business Day following receipt by the Administrative Agent of the new Note, to return its superseded Note to the Administrative Agent, which shall thereupon transmit the new Notes to the Assignor and the Assignee and the superseded Note to the Borrower for cancellation.

Appears in 2 contracts

Samples: Loan Agreement (American Tower Systems Corp), Loan Agreement (American Radio Systems Corp /Ma/)

AutoNDA by SimpleDocs

Consents and Undertaking. The Administrative Agent and the Borrower hereby consent to the assignment assignments made hereinherein (to the extent such consents are required), and the Borrower undertakes shall undertake within five ten (510) Business Days from written notice of the Assignment Date to provide new Notes to the Administrative Agent, for the benefit of the Assignee and the Assignor, as appropriate to reflect the portion portions of the Commitment Commitments held by each of the Assignee and the Assignor after giving effect to the assignment contemplated by this Agreement. The Assignor agrees on the Business Day following receipt by of notice from the Administrative Agent of its receipt of the new NoteNotes, to return its superseded Note Notes to the Administrative Agent, which shall thereupon transmit the new Notes to the Assignor and the Assignee and the superseded Note Notes to the Borrower for cancellation.

Appears in 1 contract

Samples: Pledge Agreement (Bresnan Capital Corp)

AutoNDA by SimpleDocs

Consents and Undertaking. The Administrative Agent [and the Borrower Borrower] hereby consent consent[s] to the assignment made herein, and the Borrower undertakes within five (5) Business Days from the Assignment Date to provide new Notes to the Administrative Agent, for the benefit of the Assignee and the Assignor, as appropriate to reflect the portion of the Commitment held by each of the Assignee and the Assignor after giving effect to the assignment contemplated by this Agreement. The Assignor agrees on the Business Day following receipt by the Administrative Agent of the new Note, to return its superseded Note to the Administrative Agent, which shall thereupon transmit the new Notes to the Assignor and the Assignee and the superseded Note to the Borrower for cancellation.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Rural Cellular Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.