Legal Authority and Financial Ability. The transferee shall provide to the remaining Lender evidence satisfactory to the remaining Lender that the proposed transferee has the financial ability and legal authority to assume and perform all obligations of the transferring Lender under this Agreement and the applicable Loan Agreement.
Appears in 2 contracts
Sources: Loan and Security Agreement (Corsair Communications Inc), Loan and Security Agreement (Corsair Communications Inc)
Legal Authority and Financial Ability. The transferee shall provide to the remaining each other Lender evidence satisfactory to the remaining such Lender that the proposed transferee has the financial ability and legal authority to assume and perform all obligations of the transferring Lender under this Agreement and the applicable Loan Agreement.
Appears in 1 contract
Sources: Intercreditor Agreement (Venture Lending & Leasing V, Inc.)