Common use of Lender re-organization; waiver of Transfer Certificate Clause in Contracts

Lender re-organization; waiver of Transfer Certificate. If a Lender enters into any merger, de-merger or other reorganization as a result of which all its rights or obligations vest in a successor, the Agent may, if it sees fit, by notice to the successor and the Borrower and the Security Trustee waive the need for the execution and delivery of a Transfer Certificate and, upon service of the Agent’s notice, the successor shall become a Lender with the same Commitment and Contribution as were held by the predecessor Lender.

Appears in 11 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.), Credit Agreement (Scorpio Bulkers Inc.)

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Lender re-organization; waiver of Transfer Certificate. If a Lender enters into any merger, de-merger or other reorganization as a result of which all its rights or obligations vest in a successor, the Agent may, if it sees fit, by notice to the successor and the Borrower Borrowers and the Security Trustee waive the need for the execution and delivery of a Transfer Certificate and, upon service of the Agent’s notice, the successor shall become a Lender with the same Commitment and Contribution as were held by the predecessor Lender.

Appears in 11 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)

Lender re-organization; waiver of Transfer Certificate. If a Lender enters into any merger, de-merger or other reorganization as a result of which all its rights or obligations vest in a successor, the Agent may, if it sees fitin its sole discretion, by notice to the successor and the Borrower Borrowers and the Security Trustee waive the need for the execution and delivery of a Transfer Certificate and, upon service of the Agent’s notice, the successor shall become a Lender with the same Commitment and Contribution as were held by the predecessor Lender.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Tankers Inc.)

Lender re-organization; waiver of Transfer Certificate. If a Lender enters into any merger, de-merger or other reorganization as a result of which all its rights or obligations vest in a successor, the Agent may, if it sees fit, by notice to the successor and the Borrower 116 ‌ SK 26945 0003 10902825 v6 and the Security Trustee waive the need for the execution and delivery of a Transfer Certificate and, upon service of the Agent’s notice, the successor shall become a Lender with the same Commitment and Contribution as were held by the predecessor LenderXxxxxx.

Appears in 1 contract

Samples: Loan Agreement (Dorian LPG Ltd.)

Lender re-organization; waiver of Transfer Certificate. If a Lender enters into any merger, de-merger or other reorganization as a result of which all its rights or obligations vest in a successor, the Agent may, if it sees fit, by notice to the successor and the Borrower Company, Administrative Agent and the Common Security Trustee Agent waive the need for the execution and delivery of a Transfer Certificate and, upon service of the Administrative Agent’s 's notice, the successor shall become a Lender with the same Commitment and Contribution as were held by the predecessor Lender.

Appears in 1 contract

Samples: Common Terms Agreement (Ultrapetrol Bahamas LTD)

Lender re-organization; waiver of Transfer Certificate. If a Lender enters into any merger, de-merger or other reorganization as a result of which all its rights or obligations vest in a successor, the Agent may, if it sees fit, by notice to the successor and the Borrower and the Security Trustee waive the need for the execution and delivery of a Transfer Certificate and, upon service of the Agent’s notice, the successor shall become a Lender with the same Commitment and Contribution as were held by the predecessor Lender.. 116 ‌

Appears in 1 contract

Samples: Loan Agreement (Dorian LPG Ltd.)

Lender re-organization; waiver of Transfer Certificate. If a Lender enters into any merger, de-merger or other reorganization as a result of which all its rights or obligations vest in a successor, the Agent may, if it sees fit, by notice to the successor and the Borrower and the Security Trustee waive the need for the execution and delivery of a Transfer Certificate and, upon service of the Agent’s 's notice, the successor shall become a Lender with the same Commitment and Contribution as were held by the predecessor Lender.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Tankers Inc.)

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Lender re-organization; waiver of Transfer Certificate. If a Lender enters into any merger, de-merger or other reorganization as a result of which all its rights or obligations vest in a successor, the Agent may, if it sees fitin its sole discretion, by notice to the successor and the Borrower and the Security Trustee waive the need for the execution and delivery of a Transfer Certificate and, upon service of the Agent’s notice, the successor shall become a Lender with the same Commitment and Contribution as were held by the predecessor Lender.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Tankers Inc.)

Lender re-organization; waiver of Transfer Certificate. If a Lender enters into any merger, de-merger or other reorganization as a result of which all its rights or obligations vest in a successor, the Agent may, if it sees fitin its sole discretion, by notice to the successor and the Borrower Borrowers and the Security Trustee waive the need for the execution and delivery of a Transfer Certificate and, upon service of the Agent’s 's notice, the successor shall become a Lender with the same Commitment and Contribution as were held by the predecessor Lender.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Bulkers Inc.)

Lender re-organization; waiver of Transfer Certificate. If However, if a Lender enters into any merger, de-merger or other reorganization as a result of which all its rights or obligations vest in a another Person (the “successor”), the Administrative Agent may, if it sees fit, by notice to the successor and the Borrower Borrowers and the Security Trustee Agent waive the need for the execution and delivery of a Transfer Certificate Certificate; and, upon service of the Administrative Agent’s notice, the successor shall become a Lender with the same Commitment and Contribution as were held by the predecessor Lender.

Appears in 1 contract

Samples: Senior Secured Credit Facility Agreement (Pacific Drilling S.A.)

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