Common use of Procedure for assignment Clause in Contracts

Procedure for assignment. (a) Subject to the conditions set out in Clause 21.2 (Conditions of Assignment or Transfer) an assignment may be effected in accordance with paragraph (c) below when the Facility Agent and Security Agent execute an otherwise duly completed Assignment Agreement delivered to them by the Existing Lender and the New Lender. The Facility Agent and Security Agent shall, subject to paragraph (b) below, as soon as reasonably practicable after receipt by them 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.

Procedure for assignment. (a) Subject to the conditions set out in Clause 21.2 28.2 (Conditions of Assignment assignment or Transfertransfer) an assignment may be effected in accordance with paragraph (c) below when the Facility Agent and Security Agent execute executes an otherwise duly completed Assignment Agreement delivered to them it by the Existing Lender and the New Lender. The Facility Agent and Security Agent shall, subject to paragraph (b) below, as soon as reasonably practicable after receipt by them 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. Upon execution by the Facility Agent, the Security Agent shall also execute the Assignment Agreement.