Common use of Credit Participants Clause in Contracts

Credit Participants. Each Lender may, without the consent of the ------------------- Company or the Agent, in compliance with applicable laws in connection with such participation, sell to one or more commercial banks, other financial institutions or mutual funds (each a "Credit Participant") participations in all ------------------ or a portion of its interests, rights and obligations under this Agreement and the other Credit Documents (including all or a portion of its Commitment, the Loan and Letter of Credit Exposure owing to it and the Note held by it); provided, however, that: -------- ------- (1) such Lender's obligations under this Agreement shall remain unchanged; (2) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; (3) the Credit Participant shall be entitled to the benefit of the cost protection provisions contained in Sections 3.2.4, 3.5 and 9, but shall not be entitled to receive any greater payment thereunder than the selling Lender would have been entitled to receive with respect to the interest so sold if such interest had not been sold; and (4) the Company, the 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, and such Lender shall retain the sole right as one of the Lenders to vote with respect to the enforcement of the obligations of the Obligors relating to the Loan and Letter of Credit Exposure and the approval of any amendment, modification or waiver of any provision of this Agreement (other than amendments, modifications, consents or waivers described in clause (b) of the proviso to Section 10.6

Appears in 1 contract

Samples: Credit Agreement (Sba Communications Corp)

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Credit Participants. Each Lender may, without the consent of the ------------------- Company any Borrower or the any Agent, in compliance with applicable laws in connection with such participation, sell to one or more commercial banks, other financial institutions or mutual funds Qualified Institutional Buyers (each a "Credit ParticipantCREDIT PARTICIPANT") participations in all ------------------ or a portion of its interests, rights and obligations under this Agreement and the other Credit Documents (including all or a portion of its Commitment, Commitment and the Loan and Letter of Credit Exposure owing to it and the Note Notes held by it); providedPROVIDED, howeverHOWEVER, that: -------- -------: (1a) such Lender's obligations under this Agreement shall remain unchanged; (2b) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; (3c) the Credit Participant shall be entitled to the benefit of the cost protection provisions contained in Sections 3.2.4, 3.5 3.4, 3.5, 3.6 and 910, but shall not be entitled to receive any greater payment thereunder than the selling Lender would have been entitled to receive with respect to the interest so sold if such interest had not been sold; and (4d) the CompanyBorrowers, the Agent Agents 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, and such Lender shall retain the sole right as one of the Lenders to vote with respect to the enforcement of enforce the obligations of the Obligors Borrowers relating to the Loan and Letter of Credit Exposure and the approval of to approve any amendment, modification or waiver of any provision of this Agreement (other than amendments, modifications, consents modifications or waivers described in clause (b) with respect to any fees payable hereunder or the amount of principal of or the rate at which interest is payable on the Loan, or the final maturity date of any portion of the proviso to Section 10.6Loan).

Appears in 1 contract

Samples: Credit Agreement (Falcon Funding Corp)

Credit Participants. Each Lender may, without the consent of the ------------------- Company Borrower or the any Agent, in compliance with applicable laws in connection with such participation, sell to one or more commercial banks, other financial institutions or mutual funds Qualified Institutional Buyers (each a "Credit Participant") participations in all ------------------ or a portion of its interests, rights and obligations under this Agreement and the other Credit Documents (including all or a portion of its Commitment, Commitment and the Loan and Letter of Credit Exposure owing to it and the Note Notes held by it); provided, however, that: -------- -------: (1a) such Lender's ’s obligations under this Agreement shall remain unchanged; (2b) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; (3c) the Credit Participant shall be entitled to the benefit of the cost protection provisions contained in Sections 3.2.4, 3.5 3.4, 3.5, 3.6 and 910, but shall not be entitled to receive any greater payment thereunder than the selling Lender would have been entitled to receive with respect to the interest so sold if such interest had not been sold; and (4d) the CompanyBorrower, the Agent Agents 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, and such Lender shall retain the sole right as one of the Lenders to vote with respect to the enforcement of enforce the obligations of the Obligors Borrower relating to the Loan and Letter of Credit Exposure and the approval of to approve any amendment, modification or waiver of any provision of this Agreement (other than amendments, modifications, consents modifications or waivers described in clause (b) with respect to any fees payable hereunder or the amount of principal of or the rate at which interest is payable on the Loan, or the final maturity date of any portion of the proviso to Section 10.6Loan).

Appears in 1 contract

Samples: Credit Agreement (Charter Communications Inc /Mo/)

Credit Participants. Each Lender may, without the consent of the ------------------- Company or the Agent, in compliance with applicable laws in connection with such participation, sell to one or more commercial banks, other financial institutions or mutual funds (each a "Credit Participant") participations in all ------------------ or a portion of its interests, rights and obligations under this Agreement and the other Credit Documents (including all or a portion of its Commitment, the Loan and Letter of Credit Exposure owing to it and the Note held by it); provided, however, that: -------- ------- (1a) such Lender's obligations under this Agreement shall remain unchanged; (2b) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; (3c) the Credit Participant shall be entitled to the benefit of the cost protection provisions contained in Sections 3.2.4, 3.5 and 9, but shall not be entitled to receive any greater payment thereunder than the selling Lender would have been entitled to receive with respect to the interest so sold if such interest had not been sold; and (4d) the Company, the 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, and such Lender shall retain the sole right as one of the Lenders to vote with respect to the enforcement of the obligations of the Obligors relating to the Loan and Letter of Credit Exposure and the approval of any amendment, modification or waiver of any provision of this Agreement (other than amendments, modifications, consents or waivers described in clause (b) of the proviso to Section 10.6

Appears in 1 contract

Samples: Credit Agreement (Sba Communications Corp)

Credit Participants. Each Lender may, without the consent of the ------------------- Company or the Agent, in compliance with applicable laws in connection with such participation, sell to one or more commercial banks, banks or other financial institutions or mutual funds (each a "Credit Participant") participations in all ------------------ or a portion of its interests, rights and obligations under this Agreement and the other Credit Documents (including all or a portion of its Commitment, the Loan and Letter of Credit Exposure owing to it and the Note held by it); provided, however, that: -------- -------: (1a) such Lender's obligations under this Agreement shall remain unchanged; (2b) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; (3c) the Credit Participant shall be entitled to the benefit of the cost protection provisions contained in Sections 3.2.4, 3.5 3.5, 3.6, 3.7, 3.8 and 911, but shall not be entitled to receive any greater payment thereunder than the selling Lender would have been entitled to receive with respect to the interest so sold if such interest had not been sold; and (4d) the Company, the 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, and such Lender shall retain the sole right as one of the Lenders to vote with respect to the enforcement of the obligations of the Obligors Company relating to the Loan and Letter of Credit Exposure and the approval of any amendment, modification or waiver of any provision of this Agreement (other than amendments, modifications, consents or waivers described in clause (b) of the proviso to Section 10.612.

Appears in 1 contract

Samples: Credit Agreement (Transmontaigne Inc)

Credit Participants. Each Lender may, without the consent of the ------------------- Company Borrower or the Agent, in compliance with applicable laws in connection with such participation, sell to one or more commercial banks, banks or other financial institutions or mutual funds (each a "Credit Participant") participations in all ------------------ or a portion of its interests, rights and obligations under this Agreement and the other Credit Documents (including all or a portion of its Commitment, the Loan and Letter of Credit Exposure owing to it and the Note Notes held by it); provided, however, that: -------- -------: (1a) such Lender's obligations under this Agreement shall remain unchanged; (2b) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; (3c) the Credit Participant shall be entitled to the benefit of the cost protection provisions contained in Sections 3.2.4, 3.5 3.5, 3.6, 3.7, 3.8 and 911, but shall not be entitled to receive any greater payment thereunder than the selling Lender would have been entitled to receive with respect to the interest so sold if such interest had not been sold; and (4d) the CompanyBorrower, the 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, and such Lender shall retain the sole right as one of the Lenders to vote with respect to the enforcement of the obligations of the Obligors Borrower relating to the Loan and Letter of Credit Exposure and the approval of any amendment, modification or waiver of any provision of this Agreement (other than amendments, modifications, consents or waivers described in clause (bc) of the proviso to Section 10.612.

Appears in 1 contract

Samples: Credit Agreement (Ameripath Inc)

Credit Participants. Each Lender may, without the consent of the ------------------- Company Borrower or the Agent, in compliance with applicable laws in connection with such participation, sell to one or more commercial banks, banks or other financial institutions or mutual funds (each a "Credit Participant") participations participations, in all ------------------ or a portion ------------------ of its interests, rights and obligations under this Agreement and the other Credit Documents (including all or a portion of its Commitment, the Loan and Letter of Credit Exposure owing to it and the Note Notes held by it); provided, -------- however, that: -------- ------- (1a) such Lender's obligations under this Agreement shall remain unchanged; (2b) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; (3c) the Credit Participant shall be entitled to the benefit of the cost protection provisions contained in Sections 3.2.4, 3.5 and 911, but shall not be entitled to receive any greater payment thereunder than the selling Lender would have been entitled to receive with respect to the interest so sold if such interest had not been sold; and (4d) the CompanyBorrower, the 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, and such Lender shall retain the sole right as one of the Lenders to vote with respect to the enforcement of the obligations of the Obligors Borrower relating to the Loan and Letter of Credit Exposure and the approval of any amendment, modification or waiver of any provision of this Agreement (other than amendments, modifications, consents or waivers described in clause (bc) of the proviso to Section 10.612.

Appears in 1 contract

Samples: Credit Agreement (Ameripath Inc)

Credit Participants. Each Lender may, without the consent of the ------------------- Company or the Agent, in compliance with applicable laws in connection with such participation, sell to one or more commercial banks, banks or other financial institutions or mutual funds (each a "Credit Participant") participations in all ------------------ or a portion of its interests, rights and obligations under this Agreement 103 and the other Credit Documents (including all or a portion of its Commitment, the Loan and Letter of Credit Exposure owing to it and the Note held by it); provided, however, that: -------- -------: (1a) such Lender's obligations under this Agreement shall remain unchanged; (2b) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; (3c) the Credit Participant shall be entitled to the benefit of the cost protection provisions contained in Sections 3.2.4, 3.5 and 9, but shall not be entitled to receive any greater payment thereunder than the selling Lender would have been entitled to receive with respect to the interest so sold if such interest had not been sold; and (4d) the Company, the Borrower, the 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, and such Lender shall retain the sole right as one of the Lenders to vote with respect to the enforcement of the obligations of the Obligors Company relating to the Loan and Letter of Credit Exposure and the approval of any amendment, modification or waiver of any provision of this Agreement (other than amendments, modifications, consents or waivers requiring the consent of 100% of the Lenders described in clause (b) of the proviso to Section 10.610.

Appears in 1 contract

Samples: Credit Agreement (Racing Champions Corp)

Credit Participants. Each Lender may, without the consent of the ------------------- Company or the Agent, in compliance with applicable laws in connection with such participation, sell to one or more commercial banks, banks or other financial institutions or mutual funds in the business of making or purchasing loans similar to the Credit Obligations (each a "Credit Participant") participations in all ------------------ or a portion of its interests, rights and obligations under this Agreement and the other Credit Documents (including all or a portion of its Commitment, the Loan and Letter of Credit Exposure owing to it and the Note held by it); provided, however, that: -------- -------: (1a) such Lender's obligations under this Agreement shall remain unchanged; (2b) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; (3c) the Credit Participant shall be entitled to the benefit of the cost protection provisions contained in Sections 3.2.4, 3.5 3.7 and 910; provided, but however, that the Credit Participant shall not be entitled to receive any greater payment thereunder than the selling Lender would have been entitled to receive with respect to the interest so sold if such interest had not been sold; provided, further, that the Credit Participant shall not be entitled to receive any greater payment hereunder than the Credit Participant would have been entitled to receive if such Credit Participant itself were a Lender; and (4d) the Company, the 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, and such Lender shall retain the sole right in its discretion as one of the Lenders to vote with respect to the enforcement of the obligations of the Obligors Company relating to the Loan and Letter of Credit Exposure and the approval of any amendment, modification or waiver of any provision of this Agreement (other than amendments, modifications, consents or waivers described in clause clauses (b) or (c) of the proviso to Section 10.615.1

Appears in 1 contract

Samples: Credit Agreement (Buckeye Technologies Inc)

Credit Participants. Each Lender may, without the consent of the ------------------- Company Borrower or the Agent, in compliance with applicable laws in connection with such participation, sell to one or more commercial banks, banks or other financial institutions or mutual funds (each a "Credit ParticipantCREDIT PARTICIPANT") participations participations, in all ------------------ or a portion of its interests, rights and obligations under this Agreement and the other Credit Documents (including all or a portion of its Commitment, the Loan and Letter of Credit Exposure owing to it and the Note Notes held by it); providedPROVIDED, howeverHOWEVER, that: -------- -------: (1a) such Lender's obligations under this Agreement shall remain unchanged; (2b) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; (3c) the Credit Participant shall be entitled to the benefit of the cost protection provisions contained in Sections 3.2.4, 3.5 and 911, but shall not be entitled to receive any greater payment thereunder than the selling Lender would have been entitled to receive with respect to the interest so sold if such interest had not been sold; and (4d) the CompanyBorrower, the 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, and such Lender shall retain the sole right as one of the Lenders to vote with respect to the enforcement of the obligations of the Obligors Borrower relating to the Loan and Letter of Credit Exposure and the approval of any amendment, modification or waiver of any provision of this Agreement (other than amendments, modifications, consents or waivers described in clause (bc) of the proviso to Section 10.612.

Appears in 1 contract

Samples: Credit Agreement (Ameripath Inc)

Credit Participants. Each Lender may, without the consent of the ------------------- Company Borrower or the Agent, in compliance with applicable laws in connection with such participation, sell to one or more commercial banks, banks or other financial institutions or mutual funds (each a "Credit ParticipantCREDIT PARTICIPANT") participations participations, in all ------------------ or a portion of its interests, rights and obligations under this Agreement and the other Credit Documents (including all or a portion of its Commitment, the Loan and Letter of Credit Exposure owing to it and the Note Notes held by it); providedPROVIDED, howeverHOWEVER, that: -------- -------: (1a) such Lender's obligations under this Agreement shall remain unchanged; (2b) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; (3c) the Credit Participant shall be entitled to the benefit of the cost protection provisions contained in Sections 3.2.4, 3.5 and 911, but shall not be entitled to receive any greater payment thereunder than the selling Lender would have been entitled to receive with respect to the interest so sold if such interest had not been sold; and (4d) the CompanyBorrower, the 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, and such Lender shall retain the sole right as one of the Lenders to vote with respect to the enforcement of the obligations of the Obligors Borrower relating to the Loan and Letter of Credit Exposure and the approval of any amendment, modification or waiver of any provision of this Agreement (other than amendments, modifications, consents or waivers described in clause (b) of the proviso to Section 10.6any

Appears in 1 contract

Samples: Credit Agreement (Ameripath Inc)

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Credit Participants. Each Lender may, without the consent of the ------------------- Company or the Agent, in compliance with applicable laws in connection with such participation, sell to one or more commercial banks, banks or other financial institutions or mutual funds (each a "Credit Participant") participations in all ------------------ or a portion of its interests, rights and obligations under this Agreement and the other Credit Documents (including all or a portion of its Commitment, the Loan and Letter of Credit Exposure owing to it and the Note held by it); provided, however, that: -------- -------: (1a) such Lender's obligations under this Agreement shall remain unchanged; (2b) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; (3c) the Credit Participant shall be entitled to the benefit of the cost protection provisions contained in Sections 3.2.4, 3.5 3.7, 3.8, 3.9, 3.10 and 910; provided, but however, that the Credit Participant shall not be entitled to receive any greater payment thereunder than the selling Lender would have been entitled to receive with respect to the interest so sold if such interest had not been sold; provided, further, that the Credit Participant shall not be entitled to receive any greater payment hereunder than the Credit Participant would have been entitled to receive if such Credit Participant itself were a Lender; and (4d) the Company, the 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, and such Lender shall retain the sole right in its discretion as one of the Lenders to vote with respect to the enforcement of the obligations of the Obligors Company relating to the Loan and Letter of Credit Exposure and the approval of any amendment, modification or waiver of any provision of this Agreement (other than amendments, modifications, consents or waivers described in clause (b) of the proviso to Section 10.611.

Appears in 1 contract

Samples: Credit Agreement (Buckeye Cellulose Corp)

Credit Participants. Each Lender may, without the consent of the ------------------- Company Borrowers or the Agent, in compliance with applicable laws in connection with such participation, sell to one or more commercial banks, banks or other financial institutions or mutual funds (each a "Credit Participant") participations in all ------------------ or a portion of its interests, rights and obligations under this Agreement and the other Credit Documents (including all or a portion of its Commitment, the Revolving Loan and Letter of Credit Exposure owing to it and the Revolving Note held by it); provided, however, that: -------- -------: (1a) such Lender's obligations under this Agreement shall remain unchanged; (2b) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; (3c) the Credit Participant shall be entitled to the benefit of the cost protection provisions contained in Sections 3.2.4, 3.5 3.5, 3.6, 3.7, 3.8 and 911, but shall not be entitled to receive any greater payment thereunder than the selling Lender would have been entitled to receive with respect to the interest so sold if such interest had not been sold; and (4d) the CompanyBorrowers, the 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, and such Lender shall retain the sole right as one of the Lenders to vote with respect to the enforcement of the obligations of the Obligors Borrowers relating to the Revolving Loan and Letter of Credit Exposure and the approval of any amendment, modification or waiver of any provision of this Agreement (other than amendments, modifications, consents or waivers described in clause (bc) of the proviso to Section 10.612.

Appears in 1 contract

Samples: Credit Agreement (Ameripath Inc)

Credit Participants. Each Lender may, without the consent of the ------------------- Company Borrowers or the Agent, in compliance with applicable laws in connection with such participation, sell to one or more commercial banks, banks or other financial institutions or mutual funds (each a "Credit Participant") participations in all ------------------ or a portion of its interests, rights and obligations under this Agreement and the other Credit Documents (including all or a portion of its Commitment, the Loan and Revolving Loan, the Letter of Credit Exposure owing to it and the Revolving Note held by it); provided, however, that: -------- -------: (1a) such Lender's obligations under this Agreement shall remain unchanged; (2b) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; (3c) the Credit Participant shall be entitled to the benefit of the cost protection provisions contained in Sections 3.2.4, 3.5 3.6, 3.7, 3.8, 3.9 and 910, but shall not be entitled to receive any greater payment thereunder than the selling Lender would have been entitled to receive with respect to the interest so sold if such interest had not been sold; and (4d) the CompanyBorrowers, the 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, and such Lender shall retain the sole right as one of the Lenders to vote with respect to the enforcement of the obligations of the Obligors Borrowers relating to the Loan and Revolving Loan, the Letter of Credit Exposure and the approval of any amendment, modification or waiver of any provision of this Agreement (other than amendments, modifications, consents or waivers described in clause (b) of the proviso to Section 10.611.6

Appears in 1 contract

Samples: Credit Agreement (Pediatrix Medical Group Inc)

Credit Participants. Each Lender may, without the consent of the ------------------- Company Borrowers or the Agent, in compliance with applicable laws in connection with such participation, sell to one or more commercial banks, banks or other financial institutions or mutual funds (each a "Credit ParticipantCREDIT PARTICIPANT") participations in all ------------------ or a portion of its interests, rights and obligations under this Agreement and the other Credit Documents (including all or a portion of its Commitment, the Loan and Revolving Loan, the Letter of Credit Exposure owing to it and the Revolving Note held by it); providedPROVIDED, howeverHOWEVER, that: -------- -------: (1a) such Lender's obligations under this Agreement shall remain unchanged; (2b) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; (3c) the Credit Participant shall be entitled to the benefit of the cost protection provisions contained in Sections 3.2.4, 3.5 3.6, 3.7, 3.8, 3.9 and 910, but shall not be entitled to receive any greater payment thereunder than the selling Lender would have been entitled to receive with respect to the interest so sold if such interest had not been sold; and (4d) the CompanyBorrowers, the 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, and such Lender shall retain the sole right as one of the Lenders to vote with respect to the enforcement of the obligations of the Obligors Borrowers relating to the Loan and Revolving Loan, the Letter of Credit Exposure and the approval of any amendment, modification or waiver of any provision of this Agreement (other than amendments, modifications, consents or waivers described in clause (b) of the proviso to Section 10.611.6

Appears in 1 contract

Samples: Credit Agreement (Pediatrix Medical Group Inc)

Credit Participants. Each Lender may, without the consent of the ------------------- Company Borrower or the any Agent, in compliance with applicable laws in connection with such participation, sell to one or more commercial banks, other financial institutions or mutual funds Qualified Institutional Buyers (each a "Credit Participant") participations in all ------------------ or a portion of its interests, rights and obligations under this Agreement and the other Credit Documents (including all or a portion of its Commitment, Commitment and the Loan and Letter of Credit Exposure owing to it and the Note Notes held by it); provided, however, that: -------- -------: (1a) such Lender's obligations under this Agreement shall remain unchanged;; 82 82 (2b) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; (3c) the Credit Participant shall be entitled to the benefit of the cost protection provisions contained in Sections 3.2.4, 3.5 3.4, 3.5, 3.6 and 910, but shall not be entitled to receive any greater payment thereunder than the selling Lender would have been entitled to receive with respect to the interest so sold if such interest had not been sold; and (4d) the CompanyBorrower, the Agent Agents 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, and such Lender shall retain the sole right as one of the Lenders to vote with respect to the enforcement of enforce the obligations of the Obligors Borrower relating to the Loan and Letter of Credit Exposure and the approval of to approve any amendment, modification or waiver of any provision of this Agreement (other than amendments, modifications, consents modifications or waivers described in clause (b) with respect to any fees payable hereunder or the amount of principal of or the rate at which interest is payable on the Loan, or the final maturity date of any portion of the proviso to Section 10.6Loan).

Appears in 1 contract

Samples: Credit Agreement (Charter Communications Inc /Mo/)

Credit Participants. Each Lender may, without the consent of the ------------------- Company or the Agent, in compliance with applicable laws in connection with such participation, sell to one or more commercial banks, other financial institutions or mutual funds Qualified Institutional Buyers (each a "Credit Participant") participations in all ------------------ or a portion of its such Xxxxxx's interests, rights and obligations under this Agreement and the other Credit Documents (including all or a portion of its Commitment, such Lender's Commitment and the Loan and Letter of Credit Exposure owing to it such Lender and the Note Notes held by itsuch Lender); provided, however, that: -------- -------: (1i) the amount of such participation shall not be less than $7,500,000 and in increments of $1,000,000; (ii) after giving effect to such participation, the Lender shall retain not less than 50% of its original Commitment; (iii) such Lender's obligations under this Agreement shall remain unchanged; (2iv) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; (3) the Credit Participant shall be entitled to the benefit of the cost protection provisions contained in Sections 3.2.4, 3.5 and 9, but shall not be entitled to receive any greater payment thereunder than the selling Lender would have been entitled to receive with respect to the interest so sold if such interest had not been sold; and (4v) the Company, the 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, and such Lender shall retain the sole right as one of the Lenders to vote with respect to the enforcement of enforce the obligations of the Obligors Company relating to the Loan and Letter of Credit Exposure the Notes and the approval of to approve any amendment, modification or waiver of any provision of this Agreement (other than amendments, modifications, consents modifications or waivers described in clause with respect to any fees payable hereunder or the amount of principal of or the rate at which interest is payable on the Loan, or the dates fixed for payments of principal of or interest on the Loan, or the release of any Credit Security); and (bvi) of the proviso Credit Participant shall not grant further participations with respect to Section 10.6its Percentage Interest.

Appears in 1 contract

Samples: Credit Agreement (American Annuity Group Inc)

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