Common use of Limitation on Participant Rights Clause in Contracts

Limitation on Participant Rights. A Participant shall not be entitled to receive any greater payment under Section 2.17 or 2.19 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 Parent Borrower’s prior written consent. A Participant shall not be entitled to the benefits of Section 2.19 unless the Parent Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Parent Borrower, to comply with Section 2.19(e) as though it were a Lender.

Appears in 2 contracts

Samples: Credit Agreement (SPX Corp), Credit Agreement (SPX Corp)

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Limitation on Participant Rights. A Participant shall not be entitled to receive any greater payment under Section 2.17 or 2.19 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 Parent Borrower’s prior written consent. A Participant shall not be entitled to the benefits of Section 2.19 unless the Parent Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Parent Borrower, to comply with Section Sections 2.19(e). 2.19(f) and 2.19(i) as though it were a Lender.

Appears in 1 contract

Samples: Credit Agreement (SPX Corp)

Limitation on Participant Rights. A Participant shall not be entitled to receive any greater payment under Section 2.17 or 2.19 subsections 2.6 and 2.7 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 Parent BorrowerCompany’s prior written consent. A No Participant shall not be entitled to the benefits of Section 2.19 subsection 2.7 unless the Parent Borrower is Administrative Agent and Company are notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Parent BorrowerCompany, to comply with Section 2.19(esubsection 2.7B(iv) as though it were a Lender.

Appears in 1 contract

Samples: Credit Agreement (United Online Inc)

Limitation on Participant Rights. A Participant shall not be entitled to receive any greater payment under Section Sections 2.17 or 2.19 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 Parent Borrower’s prior written consent. A Participant shall not be entitled to the benefits of Section 2.19 unless the Parent Borrower is notified of the participation sold to such Participant 161 and such Participant agrees, for the benefit of the Parent Borrower, to comply with Section Sections 2.19(e). 2.19(f) and 2.19(i), as though it were a Lender.

Appears in 1 contract

Samples: Credit Agreement (SPX Corp)

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Limitation on Participant Rights. A Participant shall not be entitled to receive any greater payment under Section 2.17 2.10 or 2.19 2.12 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 Parent 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 2.19 2.12 unless the Parent Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Parent Borrower, to comply with Section 2.19(e2.12(e) as though it were a Lender.

Appears in 1 contract

Samples: Credit Agreement (Cantel Medical Corp)

Limitation on Participant Rights. A Participant shall not be entitled to receive any greater payment under Section Sections 2.17 or 2.19 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 Parent Borrower’s prior written consent. A Participant shall not be entitled to the benefits of Section 2.19 unless the Parent Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Parent Borrower, to comply with Section Sections 2.19(e), 2.19(f) and 2.19(i), as though it were a Lender.

Appears in 1 contract

Samples: Credit Agreement (SPX Corp)

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