Common use of Procedure for assignment Clause in Contracts

Procedure for assignment. 24.6.1 Subject to the conditions set out in Clause 24.2 (Conditions of assignment or transfer) an assignment may be effected in accordance with Clause 24.6.3 below when the Agent executes an otherwise duly completed Assignment Agreement delivered to it by the Existing Lender and the New Lender. The Agent shall, subject to Clause 24.6.2 below, as soon as reasonably practicable after receipt by it of a duly completed Assignment Agreement appearing on its face to comply with the terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Assignment Agreement. 24.6.2 The Agent shall only be obliged to execute an Assignment Agreement delivered to it by the Existing Lender and the New Lender upon its completion of all “know your customer” or other checks relating to any person that it is required to carry out in relation to the assignment to such New Lender.

Appears in 2 contracts

Samples: Term Facility Agreement (Enstar Group LTD), Term Facility Agreement (Enstar Group LTD)

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Procedure for assignment. 24.6.1 23.6.1 Subject to the conditions set out in Clause 24.2 23.2 (Conditions of assignment or transfer) an assignment may be effected in accordance with Clause 24.6.3 below 23.6.3 when the Agent executes an otherwise duly completed Assignment Agreement delivered to it by the Existing Lender and the New Lender. The Agent shall, subject to Clause 24.6.2 below23.6.2, as soon as reasonably practicable after receipt by it of a duly completed Assignment Agreement appearing on its face to comply with the terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Assignment Agreement. 24.6.2 23.6.2 The Agent shall only be obliged to execute an Assignment Agreement delivered to it by the Existing Lender and the New Lender upon its completion of once it is satisfied it has complied with all necessary “know your customer” or other similar checks relating to any person that it is required to carry out under all applicable laws and regulations in relation to the assignment to such New Lender.

Appears in 2 contracts

Samples: Secured Loan Agreement (Genco Shipping & Trading LTD), Secured Loan Agreement (Safe Bulkers, Inc.)

Procedure for assignment. 24.6.1 Subject to the conditions set out in Clause 24.2 (Conditions of assignment or transfer) an assignment may be effected in accordance with Clause 24.6.3 below when the Agent executes an otherwise duly completed Assignment Agreement delivered to it by the Existing Lender and the New Lender. The Agent shall, subject to Clause 24.6.2 below24.6.2, as soon as reasonably practicable after receipt by it of a duly completed Assignment Agreement appearing on its face to comply with the terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Assignment Agreement. 24.6.2 The Agent shall only be obliged to execute an Assignment Agreement delivered to it by the Existing Lender and the New Lender upon its completion of all “know your customer” or other checks relating to any person that it is required to carry out in relation to the assignment to such New Lender.

Appears in 1 contract

Samples: Senior Facilities Agreement (Equinix Inc)

Procedure for assignment. 24.6.1 25.6.1 Subject to the conditions set out in Clause 24.2 25.2 (Conditions of assignment or transfer) an assignment may be effected in accordance with Clause 24.6.3 25.6.3 below when the Agent executes an otherwise duly completed Assignment Agreement delivered to it by the Existing Lender and the New Lender. The Agent shall, subject to Clause 24.6.2 25.6.2 below, as soon as reasonably practicable after receipt by it of a duly completed Assignment Agreement appearing on its face to comply with the terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Assignment Agreement. 24.6.2 25.6.2 The Agent shall only be obliged to execute an Assignment Agreement delivered to it by the Existing Lender and the New Lender upon its completion of all “know your customer” or other checks relating to any person that it is required to carry out in relation to the assignment to such New Lender.

Appears in 1 contract

Samples: Revolving Credit Facility Agreement (Enstar Group LTD)

Procedure for assignment. 24.6.1 23.5.1 Subject to the conditions set out in Clause 24.2 23.2 (Conditions of assignment or transfer) an assignment may be ), a Transfer is effected in accordance with Clause 24.6.3 23.5.3 below when the Facility Agent executes an otherwise duly completed Assignment Agreement delivered to it by the Existing Lender and the New Lender. The Facility Agent shall, subject to Clause 24.6.2 23.5.2 below, as soon as reasonably practicable after receipt by it of a duly completed Assignment Agreement appearing on its face to comply with the terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Assignment Agreement. 24.6.2 23.5.2 The Facility Agent shall only be obliged to execute an Assignment Agreement delivered to it by the Existing Lender and the New Lender upon its completion of once it is satisfied it has complied with all necessary “know your customer” or other similar checks relating to any person that it is required to carry out under all applicable laws and regulations in relation to the assignment to such New Lender.

Appears in 1 contract

Samples: Facility Agreement (Powerfleet, Inc.)

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Procedure for assignment. 24.6.1 23.6.1 Subject to the conditions set out in Clause 24.2 23.2 (Conditions of assignment or transfer) an assignment may be effected in accordance with Clause 24.6.3 below 23.6.3 when the Agent executes an otherwise duly completed Assignment Agreement delivered to it by the Existing Lender and the New Lender. The Agent shall, subject to Clause 24.6.2 below23.6.2, as soon as reasonably practicable after receipt by it of a duly completed Assignment Agreement appearing on its face to comply with the terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Assignment Agreement. 24.6.2 23.6.2 The Agent shall only be obliged to execute an Assignment Agreement delivered to it by the Existing Lender and the New Lender upon its completion of once it is satisfied it has complied with all necessary "know your customer" or other similar checks relating to any person that it is required to carry out under all applicable laws and regulations in relation to the assignment to such New Lender.

Appears in 1 contract

Samples: Secured Term Loan Facility (DHT Holdings, Inc.)

Procedure for assignment. 24.6.1 24.7.1 Subject to the conditions set out in Clause 24.2 (Conditions of assignment or transfer) an assignment may be effected in accordance with Clause 24.6.3 24.7.3 below when the Agent executes an otherwise duly completed Assignment Agreement delivered to it by the Existing Lender and the New Lender. The Agent shall, subject to Clause 24.6.2 24.7.2 below, as soon as reasonably practicable after receipt by it of a duly completed Assignment Agreement appearing on its face to comply with the terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Assignment Agreement. 24.6.2 24.7.2 The Agent shall only be obliged to execute an Assignment Agreement delivered to it by the Existing Lender and the New Lender upon its completion of all “know your customer” or other checks relating to any person that it is required to carry out in relation to the assignment to such New Lender.

Appears in 1 contract

Samples: Term Facility Agreement (Enstar Group LTD)

Procedure for assignment. 24.6.1 25.7.1 Subject to the conditions set out in Clause 24.2 25.2 (Conditions of assignment or transfer) an assignment may be effected in accordance with Clause 24.6.3 25.7.3 below when the Agent executes an otherwise duly completed Assignment Agreement delivered to it by the Existing Lender and the New Lender. The Agent shall, subject to Clause 24.6.2 25.7.2 below, as soon as reasonably practicable after receipt by it of a duly completed Assignment Agreement appearing on its face to comply with the terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Assignment Agreement. 24.6.2 25.7.2 The Agent shall only be obliged to execute an Assignment Agreement delivered to it by the Existing Lender and the New Lender upon its completion of all “know your customer” or other checks relating to any person that it is required to carry out in relation to the assignment to such New Lender.

Appears in 1 contract

Samples: Term Facility Agreement (Enstar Group LTD)

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