Permitted Participants Sample Clauses

Permitted Participants. EFFECT. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time sell to one or more banks or other entities ("PARTICIPANTS") participating interests in any Advance owing to such Lender, any Note held by such Lender, any Commitment of such Lender or any other interest of such Lender under the Loan Documents. In the event of any such sale by a Lender of participating interests to a Participant, such Lender's obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the holder of any such Note for all purposes under the Loan Documents, all amounts payable by Borrower under this Agreement shall be determined as if such Lender had not sold such participating interests, and Borrower and the Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender's rights and obligations under the Loan Documents.
Sample 1See All (5)
AutoNDA by SimpleDocs
Permitted Participants. EFFECT. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time sell to one or more banks or other entities ("PARTICIPANTS"), in an amount not less than $10,000,000 with $1,000,000 increments thereafter, participating interests in any Advance owing to such Lender, any Note held by such Lender, any Commitment of such Lender or any other interest of such Lender under the Loan Documents. In the event of any such sale by a Lender of participating interests to a Participant, such Lender's obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the holder of any such Note for all purposes under the Loan Documents, all amounts payable by Borrower under this Agreement shall be determined as if such Lender had not sold such participating interests, and Borrower and the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender's rights and obligations under the Loan Documents.
Sample 1
Permitted Participants. A Noteholder may, in the ordinary course of its business and in accordance with applicable law, at any time sell to one or more banks or other entities (“Participants”) all or any part of, or any interest (divided or undivided) in, the Noteholder’s rights and benefits under the Series 2019 Notes in denominations of $100,000 and $5,000 integral multiples thereof (“Participating Interests”). In the event of any such sale by a Noteholder of Participating Interests to a Participant, the Noteholder’s obligations under the Loan Documents shall remain unchanged, the Noteholder’s shall remain solely responsible to the Borrower for the performance of such obligations, all amounts payable by the Borrower under this Loan Agreement shall be determined as if the Noteholder’s had not sold the Participating Interests, and the Borrower shall continue to deal solely and directly with the Noteholders in connection with the Noteholders rights and obligations under the Loan Documents. END OF ARTICLE XIII
Sample 1
Permitted Participants. Effect. Lender may, in accordance with Applicable Law, at any time sell to one or more Affiliates, banks or other financial institutions (each a "PARTICIPANT") a participating interest in any of the Obligations owing to Lender, any Commitment of Lender or any other interest of Lender under any of the DIP Financing Documents. In the event of any such sale by Lender of participating interests to a Participant, Lender's obligations under the DIP Financing Documents shall remain unchanged, Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, Lender shall remain the holder of any Note for all purposes under the DIP Financing Documents, all amounts payable by any Obligor under this Agreement and any of the Notes shall be determined as if Lender had not sold such participating interests, and Borrowers shall continue to deal solely and directly with Lender in connection with Lender's rights and obligations under the DIP Financing Documents. If Lender sells a participation to a Person other than an Affiliate of Lender, then Lender shall give prompt written notice thereof to Borrowers.
Sample 1
Permitted Participants. (a) Any Revolving Lender may, in the ordinary course of its business and in accordance with applicable law, at any time sell or grant to one or more Affiliates, banks or other Persons ("PARTICIPANTS") participating interests in any Loans owing to such Revolving Lender, any Commitment of such Revolving Lender, if any, or any other interest of such Revolving Lender under the Finance Documents. In the event of any such sale or grant by a Revolving Lender of participating interests to a Participant, such Revolving Lender's obligations under the Finance Documents shall remain unchanged, such Revolving Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, all amounts payable by the Credit Parties under this Agreement shall be determined as if such Revolving Lender had not sold or granted such participating interests, and the Credit Parties and the Administrative Agent shall continue to deal solely and directly with such Revolving Lender in connection with such Revolving Lender's rights and obligations under the Finance Documents.
Sample 1
Permitted Participants. EFFECT. The Bank may, in the ordinary course of its business and in accordance with applicable law, at any time sell to one or more banks or other entities (the "Participants") participating interests in the Advances owing to the Bank, the Note held by the Bank, any Commitment of the Bank, or any other interest of the Bank under the Loan Documents.
Sample 1
Permitted Participants. Section 12.2.1 of the Credit Agreement is hereby amended by adding a new sentence at the end thereof as follows: “Notwithstanding anything to the contrary in this Agreement, the consent of the Required Lenders shall be required prior to any participation becoming effective.”
Sample 1
AutoNDA by SimpleDocs
Permitted Participants. Effect. The Bank shall have the unrestricted right at any time and from time to time, and without the consent of or notice to Borrower or any Guarantor, to grant to one or more banks or other financial institutions (each, a "Participant") participating interest in Bank's obligation to lend hereunder and/or any or all of the Loans held by the Bank hereunder. In the event of any such grant by the Bank of a participating interest to a Participant, whether or not upon notice to Borrower, the Bank shall remain responsible for the performance of its obligations hereunder and Borrower shall continue to deal solely and directly with the Bank in connection with Bank's rights and obligations hereunder. The Bank may furnish any information concerning Borrower in its possession from time to time to prospective Assignees and Participants, provided that the Bank shall require any such prospective Assignee or Participant to agree in writing to maintain the confidentiality of such information.
Sample 1

Related to Permitted Participants

  • Participants The Lender and its participants, if any, are not partners or joint venturers, and the Lender shall not have any liability or responsibility for any obligation, act or omission of any of its participants. All rights and powers specifically conferred upon the Lender may be transferred or delegated to any of the Lender's participants, successors or assigns.

  • Employee Participants 2.01 ELIGIBILITY.

  • Permitted Participants; Effect Any Lender may at any time sell to one or more entities (“Participants”) participating interests in any Outstanding Credit Exposure owing to such Lender, any Note held by such Lender, any Commitment of such Lender or any other interest of such Lender under the Loan Documents. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the owner of its Outstanding Credit Exposure and the holder of any Note issued to it in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrower under this Agreement shall be determined as if such Lender had not sold such participating interests, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under the Loan Documents.

  • Payments to Plan Participants and Their Beneficiaries (a) Company shall deliver to Trustee a schedule (the "Payment Schedule") that indicates the amounts payable in respect of each Plan participant (and his or her beneficiaries), that provides a formula or other instructions acceptable to Trustee for determining the amounts so payable, the form in which such amount is to be paid (as provided for or available under the Plan), and the time of commencement for payment of such amounts. Except as otherwise provided herein, Trustee shall make payments to the Plan participants and their beneficiaries in accordance with such Payment Schedule. The Trustee shall make provision for the reporting and withholding of any federal, state or local taxes that may be required to be withheld with respect to the payment of benefits pursuant to the terms of the Plan and shall pay amounts withheld to the appropriate taxing authorities or determine that such amounts have been reported, withheld and paid by Company.

  • Participant Contributions If Participant contributions are permitted, complete (a), (b), and (c). Otherwise complete (d).

  • Loans to Participants If the Adoption Agreement so indicates, a Participant may receive a loan from the Fund, subject to the following rules:

  • Distributions to Participants Whenever LC Issuer has in accordance with this section received from any Lender payment of such Lender's Percentage Share of any Matured LC Obligation, if LC Issuer thereafter receives any payment of such Matured LC Obligation or any payment of interest thereon (whether directly from Borrower or by application of LC Collateral or otherwise, and excluding only interest for any period prior to LC Issuer's demand that such Lender make such payment of its Percentage Share), LC Issuer will distribute to such Lender its Percentage Share of the amounts so received by LC Issuer; provided, however, that if any such payment received by LC Issuer must thereafter be returned by LC Issuer, such Lender shall return to LC Issuer the portion thereof which LC Issuer has previously distributed to it.

  • Rights of Participants Any participant in a Lender's interests hereunder may assert any claim for yield protection under Section 4.03 that it could have asserted if it were a Lender hereunder. If such a claim is asserted by any such participant, it shall be entitled to receive such compensation from the Borrower as a Lender would receive in like circumstances; provided, however, that with respect to any such claim, the Borrower shall have no greater liability to the Lender and its participant, in the aggregate, than it would have had to the Lender alone had no such participation interest been created.

  • Participant See Section 7(a) hereof.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!