Loan Assignments Clause Samples
The Loan Assignments clause governs the conditions under which a lender or borrower may transfer their rights and obligations under a loan agreement to another party. Typically, this clause outlines whether assignments are permitted, if prior written consent is required from the other party, and any exceptions or procedures that must be followed for a valid transfer. Its core practical function is to provide clarity and control over changes in the parties to the loan, thereby protecting the interests of both sides and ensuring that all parties are aware of and agree to any new participants in the loan arrangement.
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Loan Assignments. Each Loan Assignment is true, complete and correct in all material respects.
Loan Assignments. On or before and effective as of the Closing Date, Seller shall assign to Purchaser without recourse all promissory notes representing the outstanding indebtedness under each Loan pursuant to an assignment in substantially the form of Exhibit B attached hereto.
Loan Assignments. Each Loan Assignment is accurate in all respects.
Loan Assignments. The Borrower will not amend, modify, waive or terminate any provision of any Loan Assignment in any manner that would adversely affect the interests of the Lenders without the prior written consent of the Lenders.
Loan Assignments. Other than Loan Assets originated by the Borrower, the Loan Assignments are the only agreements pursuant to which the Borrower acquires a Loan Asset. The Borrower accounts for each Transfer of a Loan Asset under a Loan Assignment as a full transfer of such Loan Asset in its books and records.