Common use of Permitted Assignments Clause in Contracts

Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit C or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, the Administrative Agent and each LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided that if a Default has occurred and is continuing, the consent of the Borrower shall not be required. Such consent shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate thereof shall (unless each of the Borrower and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (i) $10,000,000 or (ii) the remaining amount of the assigning Lender's Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure (if the applicable Commitment has been terminated).

Appears in 2 contracts

Samples: Credit Agreement (Idaho Power Co), Credit Agreement (Idaho Power Co)

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Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit C or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, the Administrative Agent and each the LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided provided, however, that if a Default has occurred and is continuing, the consent of the Borrower shall not be required. Such consent shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate thereof shall (unless each of the Borrower and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (i) $10,000,000 5,000,000 or (ii) the remaining amount of the assigning Lender's ’s Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure outstanding Loans (if the applicable Commitment has been terminated).

Appears in 2 contracts

Samples: Credit Agreement (Cimarex Energy Co), Credit Agreement (SCP Pool Corp)

Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities ("PurchasersPURCHASERS") all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit EXHIBIT C or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, Borrowers and the Administrative Agent and each LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided PROVIDED, HOWEVER, that if a Default has occurred and is continuing, the consent of the Borrower Borrowers shall not be required. Such consent shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate thereof shall (unless each of the Borrower Borrowers and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (ia) $10,000,000 or (iib) the remaining amount of the assigning Lender's Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure outstanding Loans (if the applicable Commitment has been terminated).

Appears in 2 contracts

Samples: Day Credit Agreement (Nationwide Financial Services Inc/), Credit Agreement (Nationwide Financial Services Inc/)

Permitted Assignments. Any Lender Bank may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities Eligible Assignees ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such Any assignment shall be made pursuant to a document substantially in the form of Exhibit C F or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, Company and the Administrative Agent and each LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender Bank or an Affiliate thereof; provided that if a Default or an Event of Default has occurred and is continuing, the consent of the Borrower Company shall not be required. Such consent shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which is not a Lender Bank or an Affiliate thereof shall (unless each of the Borrower Company and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (i) $10,000,000 5,000,000 or (ii) the remaining amount of the assigning Lender's Bank’s Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure outstanding Loans (if the applicable such Commitment has been terminated).

Appears in 2 contracts

Samples: Credit Agreement (Mdu Resources Group Inc), Credit Agreement (Mdu Resources Group Inc)

Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit C or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, Borrower and the Administrative Agent and each LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided that if a Default has occurred and is continuing, the consent of the Borrower shall not be required. Such consent shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate thereof shall (unless each of the Borrower and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (i) $10,000,000 or (ii) the remaining amount of the assigning Lender's Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure (if the applicable Commitment has been terminated).

Appears in 2 contracts

Samples: Credit Agreement (Idaho Power Co), Credit Agreement (Idaho Power Co)

Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities ("PurchasersPURCHASERS") all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit EXHIBIT C or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, Borrower and the Administrative Agent and each LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided PROVIDED, HOWEVER, that if a Default has occurred and is continuing, the consent of the Borrower shall not be required. Such consent shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate thereof shall (unless each of the Borrower and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (ia) $10,000,000 5,000,000 or (iib) the remaining amount of the assigning Lender's Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure outstanding Loans (if the applicable Commitment has been terminated).

Appears in 2 contracts

Samples: Credit Agreement (State Auto Financial Corp), Credit Agreement (State Auto Financial Corp)

Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit C 12.3.1 or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, the Administrative Agent and each the LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided provided, however, that if a Default has occurred and is continuing, the consent of the Borrower shall not be required. Such consent shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate thereof shall (unless each of the Borrower and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (i) $10,000,000 5,000,000 or (ii) the remaining amount of the assigning Lender's Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure outstanding Loans (if the applicable Commitment has been terminated).

Appears in 2 contracts

Samples: Credit Agreement (Roundys Inc), Credit Agreement (Roundys Inc)

Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such assignment shall will be substantially in the form of Exhibit C or in such other form as may be agreed to by the parties thereto. The consent of the BorrowerUnit, the Administrative Agent and each the LC Issuer shall will be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided provided, however, that if a Default has occurred and is continuing, the consent of the Borrower shall Unit will not be required. Such consent shall of Unit will not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate thereof shall will (unless each of the Borrower Credit Parties and the Administrative Agent otherwise consentsconsent) be in an amount not less than the lesser of (i) $10,000,000 or (ii) the remaining amount of the assigning Lender's Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure outstanding Loans (if the applicable Commitment has been terminated).

Appears in 1 contract

Samples: Senior Credit Agreement (Unit Corp)

Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit C or in such other form as may be agreed to by the parties thereto. The consent of the BorrowerCompany, the Administrative Agent and each the LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate affiliate thereof; provided PROVIDED, HOWEVER, that if a Default has occurred and is continuing, the consent of the Borrower Company shall not be required. Such consent shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate affiliate thereof shall (unless each of the Borrower Company and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (i) $10,000,000 5,000,000 or (ii) the remaining amount of the assigning Lender's Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure outstanding Loans (if the applicable Commitment has been terminated).

Appears in 1 contract

Samples: Credit Agreement (International Fibercom Inc)

Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities entities, excluding the Borrower or an Affiliate thereof, ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit EXHIBIT C or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, Borrower and the Administrative Agent and each LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided PROVIDED, HOWEVER, that if a Default has occurred and is continuing, the consent of the Borrower shall not be required. Such consent shall not be unreasonably withheld or delayed. Each such assignment with respect shall (unless it is to a Purchaser which is not a Lender or an Affiliate thereof shall (unless or each of the Borrower and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (ia) $10,000,000 5,000,000 or (iib) the remaining amount of the assigning Lender's Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure (if the applicable Commitment has been terminated).

Appears in 1 contract

Samples: Credit Agreement (White Mountains Insurance Group LTD)

Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit C or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, the Administrative Agent and each the LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided provided, however, that if a Default has occurred and is continuing, the consent of the Borrower shall not be required. Such consent shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate thereof shall (unless each of the Borrower and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (i) $10,000,000 5,000,000 or (ii) the remaining amount of the assigning Lender's Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure outstanding Loans (if the applicable Commitment has been terminated).

Appears in 1 contract

Samples: Credit Agreement (Cimarex Energy Co)

Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit C or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, and the Administrative Agent and each the LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided provided, however, that if a Default has occurred and is continuing, the consent of the Borrower shall not be required. Such consent consents shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate thereof shall (unless each of the Borrower and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (i) $10,000,000 or (ii) the remaining amount of the assigning Lender's Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure outstanding Loans (if the applicable Commitment has been terminated).

Appears in 1 contract

Samples: Credit Agreement (Sun Communities Inc)

Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit C or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, Borrower and the Administrative Agent and each LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided PROVIDED, HOWEVER, that if a Default has occurred and is continuing, the consent of the Borrower shall not be required. Such consent shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate thereof shall (unless each of the Borrower and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (i) $10,000,000 5,000,000 or (ii) the remaining amount of the assigning Lender's Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure outstanding Loans (if the applicable Commitment has been terminated).

Appears in 1 contract

Samples: Credit Agreement (Tc Pipelines Lp)

Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit C B or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, Borrower and the Administrative Agent and each the LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided provided, however, that if a Default has occurred and is continuing, the consent of the Borrower shall not be required. Such consent shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate thereof shall (unless each of the Borrower and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (i) $10,000,000 5,000,000 or (ii) the remaining amount of the assigning Lender's Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure outstanding Loans (if the applicable Commitment has been terminated).

Appears in 1 contract

Samples: Credit Agreement (BJS Wholesale Club Inc)

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Permitted Assignments. Any Lender Bank may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities Eligible Assignees ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such Any assignment shall be made pursuant to a document substantially in the form of Exhibit C D or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, Company and the Administrative Agent and each LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which that is not a Lender Bank or an Affiliate thereof; provided that (i) if a Default or 61 an Event of Default has occurred and is continuing, the consent of the Borrower Company shall not be requiredrequired and (ii) the Company shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within five (5) Business Days after having received notice thereof. Such consent shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which that is not a Lender Bank or an Affiliate thereof shall (unless each of the Borrower Company and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (i) $10,000,000 2,500,000 or (ii) the remaining amount of the assigning Lender's Commitment (calculated Bank’s outstanding Loans as at the date of such assignment) or Outstanding Credit Exposure (if the applicable Commitment has been terminated).

Appears in 1 contract

Samples: Term Loan Agreement (Mdu Resources Group Inc)

Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit C F (an “Assignment”) or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, Borrower and the Administrative Agent and each LC Issuer shall be required prior to an assignment Assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided provided, however, that if a Default has occurred and is continuing, the consent of the Borrower shall not be required. Such consent shall not be unreasonably withheld or delayed. Each such assignment Assignment with respect to a Purchaser which is not a Lender or an Affiliate thereof shall (unless each of the Borrower and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (i) $10,000,000 5,000,000 or (ii) the remaining amount of the assigning Lender's ’s Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure outstanding Loans (if the applicable Commitment has been terminated).

Appears in 1 contract

Samples: Bridge Loan Agreement (Cintas Corp)

Permitted Assignments. Any Lender Bank may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities Eligible Assignees ("Purchasers") all or any part of its rights and obligations under the Loan Documents; provided that (i) unless a Default or Event of Default has occurred and is continuing, the consent of the Company (not to be unreasonably withheld or delayed) shall be required prior to an assignment becoming effective with respect to a Purchaser that is not a Bank or an Affiliate thereof; and (ii) the consent of the Administrative Agent and each Issuer (in each case not to be unreasonably withheld or delayed) shall be required prior to any assignment becoming effective. Such Any assignment shall be made pursuant to a document substantially in the form of Exhibit C F or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, the Administrative Agent and each LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided that if a Default has occurred and is continuing, the consent of the Borrower shall not be required. Such consent shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which that is not a Lender Bank or an Affiliate thereof shall (unless each of the Borrower Company and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (i1) $10,000,000 5,000,000 or (ii1) the remaining amount of the assigning Lender's Bank’s Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure outstanding Loans (if the applicable such Commitment has been terminated).

Appears in 1 contract

Samples: Assignment Agreement (Mdu Resources Group Inc)

Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit C or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, the Administrative Agent and each the LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided provided, however, that if a Default has occurred and is continuing, the consent of the Borrower shall not be required. Such consent shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate thereof shall (unless each of the Borrower and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (i) $10,000,000 5,000,000 or (ii) the remaining amount of the assigning Lender's Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure outstanding Loans (if the applicable Commitment has been terminated). 12.3.2.

Appears in 1 contract

Samples: Credit Agreement (Seitel Inc)

Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit C "J' hereto or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, Borrower and the Administrative Agent and each LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided , provided, however, that if a Default has occurred and is continuing, the consent of the Borrower shall not be required. Such consent consents of the Agent and the Borrower shall not be unreasonably withheld or delayed. Each such assignment with respect shall (unless it is to a Purchaser which is not a Lender or an Affiliate thereof shall (unless or each of the Borrower and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (i) $10,000,000 or (ii) the remaining amount of the assigning Lender's Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure (if the applicable Commitment has been terminated).

Appears in 1 contract

Samples: Revolving Credit Agreement (Pulte Homes Inc/Mi/)

Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit C or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, Borrowers and the Administrative Agent and each LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided provided, however, that if a Default has occurred and is continuing, the consent of the Borrower Borrowers shall not be required. Such consent shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate thereof shall (unless each of the Borrower Borrowers and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (i) $10,000,000 5,000,000 or (ii) the remaining amount of the assigning Lender's Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure outstanding Loans (if the applicable Commitment has been terminated).

Appears in 1 contract

Samples: Credit Agreement (MPW Industrial Services Group Inc)

Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit C or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, the Administrative Agent and each the LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided provided, however, that if a Default has occurred and is continuing, the consent of the Borrower shall not be required. Such consent shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate thereof shall (unless each of the Borrower and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (i) $10,000,000 5,000,000 or (ii) the remaining amount of the assigning Lender's Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure outstanding Loans (if the applicable Commitment has been terminated).

Appears in 1 contract

Samples: Pledge and Security Agreement (Matrix Service Co)

Permitted Assignments. Any Lender may, in the ordinary course --------------------- of its business and in accordance with applicable law, at any time assign to one or more banks or other entities ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit C or in such other form as may be agreed to by the parties thereto. The consent of the Borrowereach Credit Party, the Administrative Agent and each the LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided provided, however, that if a Default has occurred and is continuing, the consent of the Borrower any Credit Party shall not be required. Such consent shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate thereof shall (unless each of the Borrower Credit Parties and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (i) $10,000,000 5,000,000 or (ii) the remaining amount of the assigning Lender's Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure outstanding Loans (if the applicable Commitment has been terminated).

Appears in 1 contract

Samples: Assignment Agreement (Torchmark Corp)

Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities ("Purchasers") all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit C B or in such other form as may be agreed to by the parties thereto. The consent of the Borrower, Borrower and the Administrative Agent and each the LC Issuer shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided , provided, however, that if a Default has occurred and is continuing, the consent of the Borrower shall not be required. Such consent shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate thereof shall (unless each of the Borrower and the Administrative Agent otherwise consents) be in an amount not less than the lesser of (i) $10,000,000 5,000,000 or (ii) the remaining amount of the assigning Lender's Commitment (calculated as at the date of such assignment) or Outstanding Credit Exposure outstanding Loans (if the applicable Commitment has been terminated).

Appears in 1 contract

Samples: Credit Agreement (Coachmen Industries Inc)

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