Effect of Assignment. Subject to the terms and conditions of this Section 11.6, as of the Assignment Effective Date (1) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided that, anything contained in any of the Transaction Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; and (4) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 4 contracts
Samples: Credit Agreement (Apollo Debt Solutions BDC), Credit Agreement (FS Energy & Power Fund), Credit Agreement (FS Investment Corp II)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date with respect to any assignment and transfer of any Commitment or Loan, (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments such Commitment or Loan as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; , (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned and transferred to the assignee, relinquish its rights (other than any rights which that survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion rights and obligations of an assigning Lender’s rights and obligations Lender hereunder, such Lender shall cease to be a party hereto as a “Lender” on the such Assignment Effective Date; , provided that, anything contained in any of the Transaction Documents to the contrary notwithstanding, that such assigning Lender shall continue to be entitled to the benefit of all indemnities rights that survive the termination hereof under Section 10.8), and provided further that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder as specified herein with respect to matters arising out of the prior involvement of from such assigning Lender as Lender’s having been a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; Defaulting Lender, and (4iii) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment thereof or as promptly thereafter as practicable, surrender its applicable Notes (if any) to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new Commitments and/or outstanding Loans of the assignee and/or the assigning Lender.
Appears in 4 contracts
Samples: Superpriority Secured Debtor in Possession Credit and Guaranty Agreement (GWG Holdings, Inc.), Superpriority Secured Debtor in Possession Credit and Guaranty Agreement (GWG Holdings, Inc.), Second Lien Credit and Guaranty Agreement (Fusion Connect, Inc.)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender Xxxxxx as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 4 contracts
Samples: Credit and Guaranty Agreement (PLBY Group, Inc.), Credit and Guaranty Agreement (PLBY Group, Inc.), Credit and Guaranty Agreement (PLBY Group, Inc.)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 3 contracts
Samples: Credit and Guaranty Agreement (PLBY Group, Inc.), Credit and Guaranty Agreement (PLBY Group, Inc.), Credit and Guaranty Agreement (BlueLinx Holdings Inc.)
Effect of Assignment. Subject to the terms and conditions of this Section 11.69.6, as of the Assignment Effective Date (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the assigned Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; , (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.89.9) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided that, anything contained in any of the Transaction Documents to the contrary notwithstanding, that such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assignee, if any; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new Commitments and/or outstanding Loans of the assignee and/or the assigning Lender.
Appears in 2 contracts
Samples: Credit Agreement (Molycorp, Inc.), Credit Agreement (Molycorp, Inc.)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the “Assignment Effective Date Date” (1i) subject to Section 10.6(i), the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Term Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iii) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Term Loans of the assignee and/or the assigning Lender.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Exopack Holding Corp), Credit and Guaranty Agreement (Exopack Holding Corp)
Effect of Assignment. Subject to the terms and conditions of this Section 11.69.06, as of the “Assignment Effective Date Date” (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.89.08) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Loan Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any the Commitment of such assignee; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 2 contracts
Samples: Term Loan Credit Agreement (Fly Leasing LTD), Term Loan Credit Agreement (Fly Leasing LTD)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.06, as of the “Effective Date” specified in the applicable Assignment Effective Date Agreement: (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans such rights and Commitments as reflected in the Register obligations hereunder have been assigned to it pursuant to such Assignment Agreement and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that its rights and obligations hereunder have been assigned thereby pursuant to the assigneesuch Assignment Agreement, relinquish its rights (other than (i) as set forth in the immediately following proviso and (ii) any rights which that survive the termination hereof under Section 11.810.08) and be released from its obligations hereunder (and, in the case of an assignment Assignment Agreement covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Datehereto; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein Sections 2.18, 2.19, 10.02, 10.03 and 10.04 with respect to matters arising out of prior to the prior involvement effective date of such assigning Lender as a Lender hereunderassignment); (3iii) the Commitments shall be modified to reflect the Commitment of such assignee and any Commitment of such assigneeassigning Lender, if any; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new Commitments and/or outstanding Loans of the assignee and/or the assigning Lender.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Priority Technology Holdings, Inc.), Credit and Guaranty Agreement (Priority Technology Holdings, Inc.)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment Assignment Agreement covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assignee, if any; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new Commitments and/or outstanding Loans of the assignee and/or the assigning Lender.
Appears in 2 contracts
Samples: Second Lien Credit and Guaranty Agreement (Alion Science & Technology Corp), First Lien Credit and Guaranty Agreement (Alion Science & Technology Corp)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the “Assignment Effective Date Date” (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Mills Corp), Credit and Guaranty Agreement (Mills Limited Partnership)
Effect of Assignment. Subject Once an assignment by a Proponent of all of its rights, title and interests under this PSHA has occurred under clause 20.2, then the assigning Proponent will be deemed to the terms and conditions of this Section 11.6, as of the Assignment Effective Date (1) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder been released to the extent of its interest the assignment from all claims and liabilities arising under or in respect of this PSHA arising after the Loans and Commitments as reflected in effective date of the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2) assignment, but without affecting any claim or liability arising prior to such date. Once an assignment of this PSHA has occurred under clause 20.3, the assigning Lender thereunder shallPBC will be deemed to have been released, to the extent of the assignment from all claims and liabilities arising under or in respect of this PSHA arising after the effective date of the assignment, but without affecting any claim or liability arising prior to such date. Unless otherwise agreed by the Parties in writing or required by law, an assignment under this clause 20 shall not affect the operation of this PSHA. Except as permitted by clause 20.5(b), no Party may grant an encumbrance, mortgage or charge in respect of the whole or any part of its rights, title and interests under this PSHA. The Proponent may with the prior written consent of the PBC grant an encumbrance, mortgage or charge in respect of the whole or any part of its rights, title and interests under this PSHA provided that rights clause 20.2 shall apply mutatis mutandis to any assignment upon enforcement of such encumbrance, mortgage or charge. Notices Any notice: must be in writing and obligations hereunder have been assigned signed by a person duly authorised by the sender; must be delivered to the assigneeintended recipient by registered mail or by hand or fax to the intended recipient's address or fax number specified in schedule 1 (or the address in Western Australia or fax number last notified in writing by the intended recipient to the sender, relinquish its rights (other than any rights which survive including where so notified in an Activity Notice given to the termination hereof PBC under Section 11.8) clause 8.2); and will be released from its obligations hereunder (and, taken to be received by the recipient: in the case of an assignment covering all or delivery in person, when delivered; in the remaining portion case of an assigning Lender’s rights delivery by post (which shall be by registered mail), 2 Business Days after the date of posting; and obligations hereunderin the case of delivery by fax, such Lender shall cease on receipt by the sender of a transmission control report from the despatching machine showing the relevant number of pages and the correct destination fax machine number and name of recipient and indicating that the transmission has been made without error, but if the result is that a notice would be taken to be given or made on a party hereto day that is not a Business Day or at a time that is later than 4.00pm (local time), it will be taken to have been duly given or made at 9.00am on the Assignment Effective Date; provided that, anything contained in any of the Transaction Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; and (4) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.next Business Day. GST
Appears in 2 contracts
Samples: Proponent Standard Heritage Agreement, Proponent Standard Heritage Agreement
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date Date: (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which that survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender Xxxxxx as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assigneeassignee and any remaining Commitment of such assigning Lender, if any; and (4iv) if any such assignment occurs after the issuance of any Note hereunderpromissory note pursuant to Section 2.6, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes promissory notes to the Administrative Agent for cancellation, and thereupon the Borrower Company shall issue and deliver new Notespromissory notes in accordance with Section 2.6, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new or remaining Commitments and/or outstanding Loans of the assignee and/or the assigning Lender.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Karyopharm Therapeutics Inc.), Credit and Guaranty Agreement (Veritone, Inc.)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new insertions and/or outstanding Loans of the assignee and/or the assigning Lender.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Hamilton Lane INC), Credit and Guaranty Agreement (Hamilton Lane INC)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the “Assignment Effective Date Date” (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, (x) Issuing Bank shall continue to have all rights and obligations thereof with respect to such Letters of Credit until the cancellation or expiration of such Letters of Credit and the reimbursement of any amounts drawn thereunder and (y) such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); and (3iii) the Commitments shall be modified to reflect any Commitment of such assignee; assignee and (4) if any such assignment occurs after the issuance Commitment of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lenderif any.
Appears in 2 contracts
Samples: Letter of Credit Facility Agreement (Education Management Corporation), Letter of Credit Facility Agreement (Education Management Corporation)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the “Assignment Effective Date Date” (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iv) if any such assignment occurs after the issuance of any Loan Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Loan Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Loan Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Aeroflex Inc), Credit and Guaranty Agreement (Aeroflex Inc)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the "Effective Date" specified in the applicable Assignment Effective Date Agreement: (1i) the assignee thereunder shall have the rights and obligations of a “"Lender” " hereunder to the extent of its interest in the Loans such rights and Commitments as reflected in the Register obligations hereunder have been assigned to it pursuant to such Assignment Agreement and shall thereafter be a party hereto and a “"Lender” " for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned thereby pursuant to the assigneesuch Assignment Agreement, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment Assignment Agreement covering all or the remaining portion of an assigning Lender’s 's rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Datehereto; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; and (4) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.and
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (American Reprographics CO), Credit and Guaranty Agreement (Connetics Corp)
Effect of Assignment. Subject to On and after the terms and conditions of this Section 11.6, as of the applicable Assignment Effective Date Date, upon the recording of such Assignment Agreement in the Register and the receipt by the Administrative Agent from the assignee of an assignment fee in the amount of $3,500, (1i) the assignee thereunder shall become a party hereto and, to the extent that rights and obligations under the Credit Documents have been assigned to such assignee pursuant to such Assignment Agreement, have the rights and obligations of a “Lender” hereunder Lender (ii) the Notes (if any) corresponding to the extent of its interest in the Loans and Commitments as reflected assigned thereby shall be transferred to such assignee by notation in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2iii) the assigning Lender assignor thereunder shall, to the extent that rights and obligations hereunder under this Agreement have been assigned by it pursuant to the assigneesuch Assignment and Assumption, relinquish its rights (other than any rights which survive except for those surviving the termination hereof under Section 11.8payment in full of the Obligations) and be released from its obligations hereunder under the Credit Documents, other than those relating to events or circumstances occurring prior to such assignment (and, in the case of an assignment Assignment and Assumption covering all or the remaining portion of an assigning Lender’s rights and obligations hereunderunder the Credit Documents, such Lender shall cease to be a party hereto on hereto) relinquish its rights (except for those surviving the Assignment Effective Date; provided that, anything contained payment in any full of the Transaction Documents Obligations) and be released from its obligations under the Credit Documents, other than those relating to events or circumstances occurring prior to such assignment (and, in the contrary notwithstandingcase of an Assignment and Assumption covering all or the remaining portion of an assigning Lender’s rights and obligations under the Credit Documents, such assigning Lender shall continue cease to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunderparty hereto); (3) the Commitments shall be modified to reflect any Commitment of such assignee; and (4) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 2 contracts
Samples: Term Loan Agreement (Source Interlink Companies Inc), Senior Subordinated Bridge Loan Agreement (Source Interlink Companies Inc)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date with respect to any assignment and transfer of any Commitment or Loan, (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments such Commitment or Loan as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; , (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned and transferred to the assignee, relinquish its rights (other than any rights which that survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion rights and obligations of an assigning Lender’s rights and obligations Lender hereunder, such Lender shall cease to be a party hereto as a “Lender” (but not, if applicable, as an Issuing Bank or in any other capacity hereunder) on the such Assignment Effective Date; , provided that, anything contained in any of the Transaction Documents to the contrary notwithstanding, that such assigning Lender shall continue to be entitled to the benefit of all indemnities rights that survive the termination hereof under Section 10.8, and provided further, that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder as specified herein with respect to matters arising out of the prior involvement of from such assigning Lender as Revolving Lender’s having been a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; Defaulting Lender, and (4iii) if any such assignment and transfer occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment thereof or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new Commitments and/or outstanding Loans of the assignee and/or the assigning Lender.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (CVR Energy Inc), Credit and Guaranty Agreement (CVR Partners, Lp)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date with respect to any assignment and transfer of any Commitment or Loan, (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments such Commitment or Loan as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; , (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned and transferred to the assignee, relinquish its rights (other than any rights which that survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion rights and obligations of an assigning Lender’s rights and obligations Lender hereunder, such Lender shall cease to be a party hereto as a “Lender” (on the such Assignment Effective Date; , provided that, anything contained in any of the Transaction Documents to the contrary notwithstanding, that such assigning Lender shall continue to be entitled to the benefit of all indemnities rights that survive the termination hereof under Section 10.8), and provided further that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder as specified herein with respect to matters arising out of the prior involvement of from such assigning Lender as Lender’s having been a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; Defaulting Lender, and (4iii) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment thereof or as promptly thereafter as practicable, surrender its applicable Notes (if any) to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new Commitments and/or outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Super Senior Secured Credit Agreement (Fusion Connect, Inc.)
Effect of Assignment. Subject to the terms and conditions of this Section 11.69.6, as of the “Assignment Effective Date Date” (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.89.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any the Commitment of such assignee; assignee and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower Company shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Credit Agreement (Emc Corp)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided that, that anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assigneeassignee and any Commitment of such assigning Lender, if any; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new Commitments and/or outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Term Loan and Guaranty Agreement (TerraForm Power, Inc.)
Effect of Assignment. Subject to the terms and conditions of this Section 11.69.6, as of the “Assignment Effective Date Date” (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.89.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, and (y) such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iii) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Term Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, notwithstanding such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iii) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Term Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Restructuring Agreement (Ener1 Inc)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iii) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (TerraForm Power, Inc.)
Effect of Assignment. Subject to the terms and conditions of this Section 11.60, as of the “Effective Date” specified in the applicable Assignment Effective Date Agreement: (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans such rights and Commitments as reflected in the Register obligations hereunder have been assigned to it pursuant to such Assignment Agreement and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned thereby pursuant to the assigneesuch Assignment Agreement, relinquish its rights (other than any rights which survive the termination hereof under Section 11.80) and be released from its obligations hereunder (and, in the case of an assignment Assignment Agreement covering all or the remaining portion of an assigning LenderXxxxxx’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Datehereto; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of prior to the prior involvement effective date of such assigning Lender as a Lender hereunder)assignment; and (3iii) the Revolving Commitments shall be modified to reflect any the Revolving Commitment of such assignee; assignee and (4) if any such assignment occurs after the issuance Revolving Commitment of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lenderif any.
Appears in 1 contract
Samples: Fifth Amended and Restated Credit Agreement (CURO Group Holdings Corp.)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date with respect to any assignment and transfer of any Commitment or Loan, (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments such Commitment or Loan as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; , (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned and transferred to the assignee, relinquish its rights (other than any rights which that survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion rights and obligations of an assigning Lender’s rights and obligations Lender hereunder, such Lender shall cease to be a party hereto as a “Lender” on the such Assignment Effective Date; , provided that, anything contained in any of the Transaction Documents to the contrary notwithstanding, that such assigning Lender shall continue to be entitled to the benefit of all indemnities rights that survive the termination hereof under Section 10.8, and provided further that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder as specified herein with respect to matters arising out of the prior involvement of from such assigning Lender as Lender’s having been a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; Defaulting Lender, and (4iii) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment thereof or as promptly thereafter as practicable, surrender its applicable Notes (if any) to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new Commitments and/or outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: 364 Day Bridge Credit and Guaranty Agreement (Entegris Inc)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date Date, (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (AbitibiBowater Inc.)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date Date: (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any the Commitment of such assignee; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower Company shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Energy Transfer Partners, L.P.)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.06, as of the “Assignment Effective Date Date” (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.08) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided that, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any the Commitment of such assignee; assignee and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Och-Ziff Capital Management Group LLC)
Effect of Assignment. Subject to the terms and conditions of this Section 11.69.06, as of the "Assignment Effective Date Date" (1i) the assignee thereunder shall have the rights and obligations of a “"Lender” " hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “"Lender” " for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.89.08) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s 's rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Loan Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any the Commitment of such assignee; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Effect of Assignment. Subject to the terms and conditions of this Section 11.6, as of the Assignment Effective Date (1) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided that, anything contained in any of the Transaction Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender Lxxxxx as a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; and (4) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); and (3iii) the Commitments shall be modified to reflect any Commitment of such assignee; assignee and (4) if any such assignment occurs after the issuance Commitment of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lenderif any.
Appears in 1 contract
Samples: Superpriority Senior Secured Debtor in Possession Credit and Guaranty Agreement (J C Penney Co Inc)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the “Assignment Effective Date Date” (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assigneeassignee of such assigning Lender, if any; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Credit and Guarantee Agreement (Kraton Performance Polymers, Inc.)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the later (i) of the “Effective Date” specified in the applicable Assignment Effective Date Agreement or (1ii) the date such assignment is recorded in the Register: (A) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans such rights and Commitments as reflected in the Register obligations hereunder have been assigned to it pursuant to such Assignment Agreement and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2B) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned thereby pursuant to the assigneesuch Assignment Agreement, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment Assignment Agreement covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Datehereto; provided thatprovided, anything contained in any of the Transaction Loan Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); and (3C) the Commitments shall be modified to reflect the Commitment of such assignee and any Commitment of such assignee; and (4) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lenderif any.
Appears in 1 contract
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the "Assignment Effective Date Date"
(1i) the assignee thereunder shall have the rights and obligations of a “"Lender” " hereunder to the extent of its interest in the Term Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “"Lender” " for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s 's rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iii) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Term Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Term Loan and Guaranty Agreement (Fedders Corp /De)
Effect of Assignment. Subject to the terms and conditions of this Section 11.69.6, as of the “Assignment Effective Date Date” (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which that survive the termination hereof under Section 11.89.9) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, notwithstanding such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Effect of Assignment. Subject Upon recordation of an Assignment and Assumption by the Administrative Agent in the Register, the Eligible Assignee thereunder shall be a party to this Agreement and, to the terms and conditions of this Section 11.6, as extent of the interest assigned by such Assignment Effective Date (1) the assignee thereunder shall and Assumption, have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans Lender under this Agreement, and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2) the assigning Lender thereunder shall, to the extent that rights of the interest assigned by such Assignment and obligations hereunder have been assigned to the assigneeAssumption, relinquish its rights (other than any rights which survive the termination hereof under Section 11.8) and be released from its obligations hereunder under this Agreement (and, in the case of an assignment Assignment and Assumption covering all or of the remaining portion of an assigning Lender’s rights and obligations hereunderunder this Agreement, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided that, anything contained in any of the Transaction Documents to the contrary notwithstanding, such assigning Lender but shall continue to be entitled to the benefit benefits of all indemnities hereunder as specified herein Sections 3.01, 3.04, 3.05, 10.04 and 10.05 with respect to matters arising out of facts and circumstances occurring prior to the prior involvement effective date of such assigning Lender as a Lender hereunderassignment); (3) . Upon request, and the Commitments shall be modified to reflect any Commitment of such assignee; and (4) if any such assignment occurs after the issuance of any Note hereunder, surrender by the assigning Lender shallof its Note (if any), upon Holdings (at its expense) shall execute and deliver a Note to the effectiveness of such assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with clause (c) shall be treated for purposes of this Agreement as promptly thereafter as practicablea sale by such Lender of a participation in such rights and obligations in accordance with Section 10.07(g). For greater certainty, surrender its applicable Notes any assignment by a Lender pursuant to the Administrative Agent for cancellationthis Section 10.07 shall not in any way constitute or be deemed to constitute a novation, and thereupon the Borrower shall issue and deliver new Notesdischarge, if so requested by the assignee and/or assigning Lenderrecession, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans extinguishment or substitution of the assignee and/or existing Indebtedness and any Indebtedness so assigned shall continue to be the assigning Lendersame obligation and not a new obligations.
Appears in 1 contract
Samples: Second Lien Credit Agreement (ONESPAWORLD HOLDINGS LTD)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided that, that anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the later (i) of the “Effective Date” specified in the applicable Assignment Effective Date Agreement or (1ii) the date such assignment is recorded in the Register: (A) the assignee thereunder shall have the rights and obligations of a “LenderInvestor” hereunder to the extent of its interest in the Loans such rights and Commitments as reflected in the Register obligations hereunder have been assigned to it pursuant to such Assignment Agreement and shall thereafter be a party hereto and a “LenderInvestor” for all purposes hereof; (2B) the assigning Lender Investor thereunder shall, to the extent that rights and obligations hereunder have been assigned thereby pursuant to the assigneesuch Assignment Agreement, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment Assignment Agreement covering all or the remaining portion of an assigning LenderInvestor’s rights and obligations hereunder, such Lender Investor shall cease to be a party hereto on the Assignment Effective Datehereto; provided thatprovided, anything contained in any of the Transaction Note Documents to the contrary notwithstanding, such assigning Lender Investor shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender Investor as a Lender an Investor hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; and (4C) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender Investor shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Collateral Agent for cancellation, and thereupon the Borrower Company shall issue and deliver new Notes, if so requested by the assignee and/or assigning LenderInvestor, to such assignee and/or to such assigning LenderInvestor, with appropriate insertions, to reflect the new outstanding Loans principal amount of Notes of the assignee and/or the assigning LenderInvestor.
Appears in 1 contract
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, and (y) such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Second Lien Credit and Guaranty Agreement (American Casino & Entertainment Properties LLC)
Effect of Assignment. Subject to the terms and conditions of this Section 11.6, as of the Assignment Effective Date (1) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s 's rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided that, anything contained in any of the Transaction Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; and (4) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the “Assignment Effective Date Date” (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iii) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower Company shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Day International Group Inc)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender Lxxxxx as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Effect of Assignment. Subject to the terms and conditions of this Section 11.613.03, as of the later (i) of the “Effective Date” specified in the applicable Assignment Effective Date and Acceptance Agreement or (1ii) the date such assignment is recorded in the Register: (A) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans such rights and Commitments as reflected in the Register obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance Agreement and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2B) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned thereby pursuant to the assigneesuch Assignment and Acceptance Agreement, relinquish its rights (other than any rights which survive the termination hereof under Section 11.8of this Agreement) and be released from its obligations hereunder (and, in the case of an assignment Assignment and Acceptance Agreement covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Datehereto; provided thatprovided, anything contained in any of the Transaction Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); and (3C) the Commitments shall be modified to reflect the Commitment of such assignee and any Commitment of such assignee; and (4) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lenderif any.
Appears in 1 contract
Samples: Loan and Security Agreement (Sinclair Broadcast Group Inc)
Effect of Assignment. Subject to the terms and conditions of this Section 11.612.03, as of the later (i) of the “Effective Date” specified in the applicable Assignment Effective Date and Acceptance Agreement or (1ii) the date such assignment is recorded in the Register: (A) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans such rights and Commitments as reflected in the Register obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance Agreement and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2B) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned thereby pursuant to the assigneesuch Assignment and Acceptance Agreement, relinquish its rights (other than any rights which survive the termination hereof under Section 11.8of this Agreement) and be released from its obligations hereunder (and, in the case of an assignment Assignment and Acceptance Agreement covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Datehereto; provided thatprovided, anything contained in any of the Transaction Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); and (3C) the Commitments shall be modified to reflect the Commitment of such assignee and any Commitment of such assignee; and (4) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lenderif any.
Appears in 1 contract
Samples: Loan and Security Agreement (Sinclair Broadcast Group Inc)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Bridge Credit and Guaranty Agreement (Leonardo DRS, Inc.)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date Date: (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which that survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided that, anything contained in any of the Transaction Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assigneeassignee and any remaining Commitment of such assigning Lender, if any; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, promissory note pursuant to Section 2.5 the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes promissory notes to the Administrative Agent for cancellation, and thereupon the Borrower Companies shall issue and deliver new Notes, promissory notes in accordance with Section 2.5 if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new or remaining Commitments and/or outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (OneWater Marine Inc.)
Effect of Assignment. Subject to the terms and conditions of this Section 11.69.6, as of the Assignment Effective Date (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the assigned Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; , (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.89.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided that, anything contained in any of the Transaction Documents to the contrary notwithstanding, that such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); , (3iii) the Commitments shall be modified to reflect any Commitment of such assignee; , if any, and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new Commitments and/or outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Secured Superpriority Debtor in Possession Credit Agreement (Molycorp, Inc.)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date Date: (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which that survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assigneeassignee and any remaining Commitment of such assigning Lender, if any; and (4iv) if any such assignment occurs after the issuance of any Note hereunderpromissory note pursuant to Section 2.6, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes promissory notes to the Administrative Agent for cancellation, and thereupon the Borrower Company shall issue and deliver new Notespromissory notes in accordance with Section 2.6, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new or remaining Commitments and/or outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date Date: (1i) the assignee thereunder shall have the rights and obligations of a “"Lender” " hereunder to the extent of its interest interests in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “"Lender” " for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s 's rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iii) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to 103 such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Effect of Assignment. Subject to the terms and conditions of this Section 11.69.6, as of the Assignment Effective Date (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, solely to the extent that its rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.89.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning LenderXxxxxx’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided that, that anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising prior to the Assignment Effective Date out of the prior involvement of such assigning Lender Xxxxxx as a Lender hereunder); and (3iii) the Commitments shall be modified to reflect any Commitment of such assignee; assignee and (4) if any such assignment occurs after the issuance Commitment of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lenderif any.
Appears in 1 contract
Effect of Assignment. Subject to the terms and conditions of this Section 11.69.6, as of the Assignment Effective Date with respect to any assignment and transfer of any Commitment or Loan, (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments such Commitment or Loan as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; , (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned and transferred to the assignee, relinquish its rights (other than any rights which that survive the termination hereof under Section 11.89.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion rights and obligations of an assigning Lender’s rights and obligations Lender hereunder, such Lender shall cease to be a party hereto as a “Lender” (but not, if applicable, in any other capacity hereunder) on the such Assignment Effective Date; , provided that, anything contained in any of the Transaction Documents to the contrary notwithstanding, that such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of rights that survive the prior involvement of such assigning Lender as a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; termination hereof under Section 9.8, and (4iii) if any such assignment and transfer occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment thereof or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellationcancelation, and thereupon the Borrower Company shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new Commitments and/or outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.06, as of the “Effective Date” specified in the applicable Assignment Effective Date Agreement: (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans such rights and Commitments as reflected in the Register obligations hereunder have been assigned to it pursuant to such Assignment Agreement and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that its rights and obligations hereunder have been assigned thereby pursuant to the assigneesuch Assignment Agreement, relinquish its rights (other than (i) as set forth in the immediately following proviso and (ii) any rights which that survive the termination hereof under Section 11.810.08) and be released from its obligations hereunder (and, in the case of an assignment Assignment Agreement covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Datehereto; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein Sections 2.18, 2.19, 10.02, 10.03 and 10.04 with respect to matters arising out of prior to the prior involvement effective date of such assigning Lender as a Lender hereunderassignment); (3iii) the Commitments shall be modified to reflect the Commitment of such assignee and any Commitment of such assigneeassigning Lender, if any; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower Borrowers shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new Commitments and/or outstanding Loans of the assignee and/or the assigning Lender. Except to the extent otherwise expressly agreed by the affected parties, no NAI-1537241654v2 assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Xxxxxx’s having been a Defaulting Lender.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Priority Technology Holdings, Inc.)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the “Assignment Effective Date Date” (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iii) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower Company shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Second Lien Credit and Guaranty Agreement (X Rite Inc)
Effect of Assignment. Subject to the terms and conditions of this Section 11.69.1, as of the Assignment “Effective Date Date” specified in the applicable assignment agreement: (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans such rights and Commitments as reflected in the Register obligations hereunder have been assigned to it pursuant to such assignment agreement and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned thereby pursuant to the assigneesuch assignment agreement, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.14) and be released from its obligations hereunder (and, in the case of an assignment agreement covering all or the remaining portion of an assigning LenderXxxxxx’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Dateand shall cease to be entitled to any payment or other right under any Note); provided thatprovided, anything contained in any of the Transaction Loan Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of prior to the prior involvement effective date of such assigning Lender as a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assigneeassignment; and (4iii) if any such assignment occurs after the issuance of any Note the Notes hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower Borrowers shall issue and deliver a new NotesNote, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new and/or outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the “Assignment Effective Date Date” (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date); provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iii) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Second Lien Credit and Guaranty Agreement (X Rite Inc)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date with respect to any assignment and transfer of any Commitment or Loan, (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments such Commitment or Loan as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; , (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned and transferred to the assignee, relinquish its rights (other than any rights which that survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion rights and obligations of an assigning Lender’s rights and obligations Lender hereunder, such Lender shall cease to be a party hereto as a “Lender” on the such Assignment Effective Date; provided that, anything contained in any of the Transaction Documents to the contrary notwithstanding, that such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of rights that survive the prior involvement of such assigning Lender as a Lender hereundertermination hereof under Section 10.8); (3) provided further that except to the Commitments shall be modified to reflect extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any Commitment claim of any party hereunder arising from such assignee; Xxxxxx’s having been a Defaulting Lender, and (4iii) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment thereof or as promptly thereafter as practicable, surrender its applicable Notes (if any) to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new Commitments and/or outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Superpriority Secured Debtor in Possession Credit and Guaranty Agreement (GWG Holdings, Inc.)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date Date, (1i) the assignee thereunder shall have the rights and obligations of a “"Lender” " hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “"Lender” " for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s 's rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (AbitibiBowater Inc.)
Effect of Assignment. Subject From and after the effective date specified in each Assignment and Assumption, the Eligible Assignee thereunder shall be a party to this Agreement and, to the terms and conditions of this Section 11.6, as extent of the interest assigned by such Assignment Effective Date (1) the assignee thereunder shall and Assumption, have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans Lender under this Agreement, and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2) the assigning Lender thereunder shall, to the extent that rights of the interest assigned by such Assignment and obligations hereunder have been assigned to the assigneeAssumption, relinquish its rights (other than any rights which survive the termination hereof under Section 11.8) and be released from its obligations hereunder under this Agreement (and, in the case of an assignment Assignment and Assumption covering all or of the remaining portion of an assigning Lender’s rights and obligations hereunderunder this Agreement, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided that, anything contained in any of the Transaction Documents to the contrary notwithstanding, such assigning Lender but shall continue to be entitled to the benefit benefits of all indemnities hereunder as specified herein Sections 3.01, 3.04, 3.05, 10.04 and 10.05 with respect to matters arising out of facts and circumstances occurring prior to the prior involvement effective date of such assigning Lender as a Lender hereunderassignment); (3) . Upon request, and the Commitments shall be modified to reflect any Commitment of such assignee; and (4) if any such assignment occurs after the issuance of any Note hereunder, surrender by the assigning Lender shallof its Note (if any), upon Holdings (at its expense) shall execute and deliver a Note to the effectiveness of such assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with clause (c) shall be treated for purposes of this Agreement as promptly thereafter as practicablea sale by such Lender of a participation in such rights and obligations in accordance with Section 10.07(g). For greater certainty, surrender its applicable Notes any assignment by a Lender pursuant to the Administrative Agent for cancellationthis Section 10.07 shall not in any way constitute or be deemed to constitute a novation, and thereupon the Borrower shall issue and deliver new Notesdischarge, if so requested by the assignee and/or assigning Lenderrecession, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans extinguishment or substitution of the assignee and/or existing Indebtedness and any Indebtedness so assigned shall continue to be the assigning Lendersame obligation and not a new obligations.
Appears in 1 contract
Samples: First Lien Credit Agreement (ONESPAWORLD HOLDINGS LTD)
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the Assignment Effective Date (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof hereof, including under Section 11.810.7) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided that, that anything contained in any of the Transaction Loan Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3iii) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower Parent shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Senior Secured Term Loan Facility Agreement (New Residential Investment Corp.)
Effect of Assignment. Subject to the terms and conditions of this Section 11.6, as of the Assignment Effective Date (1) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided that, anything contained in any of the Transaction Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender Xxxxxx as a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; and (4) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Effect of Assignment. Subject to the terms and conditions of this Section 11.610.6, as of the "Assignment Effective Date Date"
(1i) the assignee thereunder shall have the rights and obligations of a “"Lender” " hereunder to the extent of its interest in the Revolving Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “"Lender” " for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.810.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s 's rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iii) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower Borrowers shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Revolving Loans of the assignee and/or the assigning Lender.
Appears in 1 contract
Samples: Revolving Loan and Guaranty Agreement (Fedders Corp /De)
Effect of Assignment. Subject to the terms and conditions of this Section 11.69.6, as of the Assignment Effective Date (1i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent of its interest in the Loans and Commitments as reflected in the Register and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (2ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof under Section 11.89.8) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective Date; provided thatprovided, anything contained in any of the Transaction Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising out of the prior involvement of such assigning Lender as a Lender hereunder); (3) the Commitments shall be modified to reflect any Commitment of such assignee; and (4iii) if any such assignment occurs after the issuance of any Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new outstanding Loans of the assignee and/or the assigning Lender.
Appears in 1 contract