Common use of Limitations upon Participant Rights Successors and Assigns Generally Clause in Contracts

Limitations upon Participant Rights Successors and Assigns Generally. A Participant shall not be entitled to receive any greater payment under Section 5.5 [Additional Compensation in Certain Circumstances], Section 5.8 [Taxes] or Section 11.3 [Reimbursement and Indemnification of Bank by the Borrower; Taxes] than the applicable Bank 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 Foreign Bank if it were a Bank shall not be entitled to the benefits of Section 5.8 [Taxes] unless the Borrowers are notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrowers, to comply with Section 5.8.6 [Status of Banks] as though it were a Bank.

Appears in 5 contracts

Samples: Credit Agreement (Triumph Group Inc), Credit Agreement (Triumph Group Inc), Credit Agreement (Triumph Group Inc)

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Limitations upon Participant Rights Successors and Assigns Generally. A Participant shall not be entitled to receive any greater payment under Section 5.5 [Additional Compensation in Certain Circumstances], Section 5.8 [Taxes] or Section 11.3 [Reimbursement and Indemnification of Bank by the Borrower; TaxesTaxes ] than the applicable Bank 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 's prior written consent. A Participant that would be a Foreign Bank if it were a Bank shall not be entitled to the benefits of Section 5.8 [Taxes] unless the Borrowers are notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrowers, to comply with Section 5.8.6 [Status of Banks] as though it were a Bank.

Appears in 3 contracts

Samples: Credit Agreement (Triumph Group Inc), Credit Agreement (Triumph Group Inc), Credit Agreement (Triumph Group Inc)

Limitations upon Participant Rights Successors and Assigns Generally. A Participant shall not be entitled to receive any greater payment under Section 5.5 [Additional Compensation in Certain Circumstances], Section 5.8 5.6 [Taxes] or Section 11.3 [Reimbursement and Indemnification of Bank Lender by the Borrower; TaxesTaxes ] than the applicable Bank 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 Foreign Bank Lender if it were a Bank Lender shall not be entitled to the benefits of Section 5.8 5.6 [Taxes] unless the Borrowers are Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the BorrowersBorrower, to comply with Section 5.8.6 10.11 [Status Equalization of BanksLenders] as though it were a BankLender.

Appears in 2 contracts

Samples: Credit Agreement (Covance Inc), Revolving Credit Facility (Covance Inc)

Limitations upon Participant Rights Successors and Assigns Generally. A Participant shall not be entitled to receive any greater payment under Section 5.5 4.5 [Additional Compensation in Certain Circumstances], Section 5.8 4.8 [Taxes] or Section 11.3 10.3 [Reimbursement and Indemnification of Bank by the Borrower; TaxesTaxes ] than the applicable Bank 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 's prior written consent. A Participant that would be a Foreign Bank if it were a Bank shall not be entitled to the benefits of Section 5.8 4.8 [Taxes] unless the Borrowers are notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrowers, to comply with Section 5.8.6 4.8.6 [Status of Banks] as though it were a Bank.

Appears in 1 contract

Samples: Revolving Credit Facility (Triumph Group Inc)

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Limitations upon Participant Rights Successors and Assigns Generally. A Participant shall not be entitled to receive any greater payment under Section 5.5 [Additional Compensation in Certain Circumstances], Section 5.8 [Taxes] or Section 11.3 [Reimbursement and Indemnification of Bank by the Borrower; Taxes] than the applicable Bank 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 Foreign Bank if it were a Bank shall not be entitled to the benefits of Section 5.8 [Taxes] unless the Borrowers are notified of the NAI-0000000000v6 participation sold to such Participant and such Participant agrees, for the benefit of the Borrowers, to comply with Section 5.8.6 [Status of Banks] as though it were a Bank.

Appears in 1 contract

Samples: Credit Agreement (Triumph Group Inc)

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