Common use of Mandatory Assignment Clause in Contracts

Mandatory Assignment. In the event any Lender delivers to either Borrower any notice in accordance with Section 3.6 or any Lender requests payment by any Borrower of any additional amounts pursuant to Section 3.10, then, provided that no Default or Event of Default has occurred and is continuing at such time, Xxxx may, at its own expense (such expense to include any transfer fee payable to the Agent under Section 11.3(b)), and in its sole discretion require such Lender to transfer and assign in whole or in part, without recourse (in accordance with and subject to the terms and conditions of Section 11.3(b)), all or part of its interests, rights and obligations under the Credit Agreement to an Eligible Assignee which shall assume such assigned obligations, provided that (i) such assignment shall not conflict with any law, rule or regulation or order of any court or other Governmental Authority and (ii) the Borrowers or such assignee shall have paid to the assigning Lender in immediately available funds the principal of and interest accrued to the date of such payment on the Loans made by it under the Credit Agreement and all other amounts owed to it under the Credit Agreement.

Mandatory Assignment. In the event that any Lender delivers to either Borrower any notice the Borrower, a demand for payment in accordance with Section 3.6 3.6, 3.9 or any Lender requests payment by any Borrower of any additional amounts pursuant to Section 3.10, 3.11 then, provided that no Default or Event of Default has occurred and is continuing at such time, Xxxx the Borrower may, at its own expense (such expense to include any transfer the administrative fee payable to the Agent under Section 11.3(b)), and in its sole discretion with the consent of the Agent (such consent not to be unreasonably withheld), require such Lender to transfer and assign in whole or in partwhole, without recourse (in accordance with and subject to the terms and conditions of Section 11.3(b)11.3), all or part of its interests, rights and obligations under the this Credit Agreement to an Eligible Assignee which shall assume such assigned obligations, ; provided that (i) such assignment shall not conflict with any law, rule or regulation or order of any court or other any Governmental Authority and (ii) the Borrowers Borrower or such assignee shall have paid to the assigning Lender in immediately available funds the principal of and interest accrued to the date of such payment on the Loans made by it under the Credit Agreement hereunder and all other amounts owed to it under the Credit Agreementhereunder.

Mandatory Assignment. In the event any Lender delivers to either the Borrower any notice in accordance with Section 3.6 or any Lender requests payment by any the Borrower of any additional amounts pursuant to Section 3.10, then, provided that no Default or Event of Default has occurred and is continuing at such time, Xxxx the Borrower may, at its own expense (such expense to include any transfer fee payable to the Agent under Section 11.3(b)), and in its sole discretion require such Lender to transfer and assign in whole or in part, without recourse (in accordance with and subject to the terms and conditions of Section 11.3(b)), all or part of its interests, rights and obligations under the this Credit Agreement to an Eligible Assignee which shall assume such assigned obligations, provided that (i) such assignment shall not conflict with any law, rule or regulation or order of any court or other Governmental Authority and (ii) the Borrowers Borrower or such assignee shall have paid to the assigning Lender in immediately available funds the principal of and interest accrued to the date of such payment on the Loans made by it under the Credit Agreement hereunder and all other amounts owed to it under the Credit Agreementhereunder.

Mandatory Assignment. In the event that any Lender delivers to either Borrower any notice the Borrower, a demand for payment in accordance with Section 3.6 3.6, 3.9 or any Lender requests payment by any Borrower of any additional amounts pursuant to Section 3.10, 3.11 then, provided that no Default or Event of Default has occurred and is continuing at such time, Xxxx the Borrower may, at its own expense (such expense to include any transfer the administrative fee payable to the Agent under Section 11.3(b)), and in its sole discretion with the consent of the Agent (such consent not to be unreasonably withheld), require such Lender to transfer and assign in whole or in partwhole, without recourse (in accordance with and subject to the terms and conditions of Section 11.3(b)11.3), all or part of its interests, rights and obligations under the this Credit Agreement to an Eligible Assignee which shall assume such assigned obligations, provided ; PROVIDED that (i) such assignment shall not conflict with any law, rule or regulation or order of any court or other any Governmental Authority and (ii) the Borrowers Borrower or such assignee shall have paid to the assigning Lender in immediately available funds the principal of and interest accrued to the date of such payment on the Loans made by it under the Credit Agreement hereunder and all other amounts owed to it under the Credit Agreementhereunder.