Common use of Limitation of Participant Rights Clause in Contracts

Limitation of Participant Rights. A Participant shall not be entitled to receive any greater payment under Sections 4.1, 4.2 or 4.5 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written consent. A Participant that would be a Non-U.S. Lender if it were a Lender shall not be entitled to the benefits of Section 4.5 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 4.5 as though it were a Lender.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (Energizer Holdings Inc), Revolving Credit Agreement (Energizer Holdings Inc)

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Limitation of Participant Rights. A Participant shall not be entitled to receive any greater payment under Sections 4.1, 4.2 Section 3.01 or 4.5 3.04 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written consent. A Participant that would be a Non-U.S. Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 4.5 3.01 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 4.5 11.15 as though it were a Lender.

Appears in 1 contract

Samples: Credit Agreement (Armstrong World Industries Inc)

Limitation of Participant Rights. A Participant shall not be entitled to receive any greater payment under Sections 4.14.01, 4.2 4.02 or 4.5 4.05 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless except to the extent (i) such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation, or (ii) the sale of the participation to such Participant is made with the Borrower’s prior written consent. A Participant that would be a Non-U.S. Lender if it were a Lender shall not be entitled to the benefits of Section 4.5 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 4.5 as though it were a Lender.151 #98412540v7

Appears in 1 contract

Samples: Credit Agreement (Energizer Holdings, Inc.)

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Limitation of Participant Rights. A Participant shall not be entitled to receive any greater payment under Sections 4.1, 4.2 or 4.5 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written consent. A Participant that would be a Non-U.S. Lender if it were a Lender shall not be entitled to the benefits of Section 4.5 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 4.5 as though it were a Lender. Assignments.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Energizer Holdings Inc)

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