On the Transfer Date. (a) the Existing Lender will assign absolutely to the New Lender its rights under the Finance Documents and in respect of the Transaction Security expressed to be the subject of the assignment in the Assignment Agreement; (b) the Existing Lender will be released from the obligations (Relevant Obligations) expressed to be the subject of the release in the Assignment Agreement (and any corresponding obligations by which it is bound in respect of the Transaction Security); and (c) the New Lender shall become a Party as a Lender and will be bound by obligations equivalent to the Relevant Obligations.
Appears in 4 contracts
Samples: Term Facility Agreement (Enstar Group LTD), Revolving Credit Facility Agreement (Enstar Group LTD), Term Facility Agreement (Enstar Group LTD)
On the Transfer Date. (a) the Existing Lender will assign absolutely to the New Lender its rights under the Finance Documents and in respect of the Transaction Security expressed to be the subject of the assignment in the Assignment Agreement;
(b) the Existing Lender will be released from the obligations (the Relevant Obligations) expressed to be the subject of the release in the Assignment Agreement (and any corresponding obligations by which it is bound in respect of the Transaction Security); and
(c) the New Lender shall become a Party as a Lender “Lender” and will be bound by obligations equivalent to the Relevant Obligations.
Appears in 3 contracts
Samples: Facilities Agreement, Facilities Agreement (MiX Telematics LTD), Facilities Agreement (PowerFleet, Inc.)
On the Transfer Date. (a) the Existing Lender will cede and assign absolutely to the New Lender its rights under the Finance Documents and in respect of the Transaction Security expressed to be the subject of the cession and assignment in the Assignment Agreement;
(b) the Existing Lender will be released from the obligations (the Relevant Obligations) expressed to be the subject of the delegation and release in the Assignment Agreement (and any corresponding obligations by which it is bound in respect of the Transaction Security)Agreement; and
(c) the New Lender shall become a Party as a Lender “Lender” and will be bound by obligations equivalent to the Relevant Obligations.
Appears in 2 contracts
Samples: Senior Facilities Agreement (Atlatsa Resources Corp), Senior Term Loan and Revolving Facilities Agreement (Atlatsa Resources Corp)
On the Transfer Date. (aA) the Existing Lender will assign absolutely to the New Lender its rights under the Finance Documents and in respect of the Transaction Security expressed to be the subject of the assignment in the Assignment Agreement;
(bB) the Existing Lender will be released from the obligations (the “Relevant Obligations”) expressed to be the subject of the release in the Assignment Agreement (and any corresponding obligations by which it is bound in respect of the Transaction Security); and
(cC) the New Lender shall become a Party as a Lender “Lender” and will be bound by obligations equivalent to the Relevant Obligations.
Appears in 1 contract
On the Transfer Date. (a) the Existing Lender will assign absolutely to the New Lender its the rights under the Finance Documents and in respect of the Transaction Security expressed to be the subject of the assignment in the Assignment Agreementassignment;
(b) the Existing Lender will be released by each Obligor and the other Finance Parties from the obligations owed by it (the Relevant Obligations) and expressed to be the subject of the release in the Assignment Agreement (and any corresponding obligations by which it is bound in respect of the Transaction Security)assignment; and
(c) the New Lender shall become a Party as a Lender "Lender" and will be bound by obligations equivalent to the Relevant Obligations.
Appears in 1 contract
Samples: Facility Agreement (Aegean Marine Petroleum Network Inc.)
On the Transfer Date. (a) the Existing Lender will assign absolutely to the New Lender its rights under the Finance Documents and in respect of the Transaction Security expressed to be the subject of the assignment in the Assignment Agreement;
(b) the Existing Lender will be released from the obligations (the Relevant Obligations) expressed to be the subject of the release in the Assignment Agreement (and any corresponding obligations by which it is bound in respect of the Transaction Security); and
(c) the New Lender shall become a Party as a Lender “Lender” and will be bound by obligations equivalent to the Relevant Obligations.. Facility Agreement _Powerfleet_ 83
Appears in 1 contract
