Common use of Records of Lenders Clause in Contracts

Records of Lenders. Each Lender shall maintain in accordance with its usual practice accounts evidencing Indebtedness of the Borrower to such Lender resulting from each Loan of such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time under this Agreement. In addition, each Lender having sold a participation in any of its Obligations or having identified an SPV as such to the Administrative Agent, acting as a non-fiduciary agent of the Borrower solely for this purpose and solely for tax purposes, shall establish and maintain at its address referred to in Section 11.11 (or at such other address as such Lender shall notify the Borrower) a record of ownership, in which such Lender shall register by book entry (A) the name and address of each such participant and SPV (and each change thereto, whether by assignment or otherwise) and (B) the rights, interest or obligation of each such participant and SPV in any Obligation, in any Commitment and in any right to receive any payment hereunder (a register for participants, "Participant Register" and a register for SPV assignments, "SPV Register"). Any participation of such Registered Loan and any assignment to a SPV (and any registered note, if any, evidencing the same shall expressly so provide) may be effected only by the registration of such participation or assignment on the Participant Register or SPV Register.

Appears in 2 contracts

Samples: Credit Agreement (Goamerica Inc), Second Lien Credit Agreement (Goamerica Inc)

AutoNDA by SimpleDocs

Records of Lenders. Each Lender shall maintain in accordance with its usual practice accounts evidencing Indebtedness of the Borrower to such Lender resulting from each Revolving Loan of such Lender from time to timeLender, including the amounts of principal and interest payable and paid to such Lender from time to time under this Agreement. In addition, each Lender having sold a participation in any of its Obligations or having identified an SPV as such to the Administrative Agent, acting as a non-fiduciary agent of the Borrower solely for this purpose and solely for tax purposes, shall establish and maintain at its address referred to in Section 11.11 10.11 (or at such other address as such Lender shall notify the Borrower) a record of ownership, in which such Lender shall register by book entry (Ai) the name and address of each such participant and SPV (and each change thereto, whether by assignment or otherwise) and (Bii) the rights, interest or obligation of each such participant and SPV in any Obligation, in any Commitment and in any right to receive any payment hereunder (a register for participantssuch records, "the “Participant Register" and a register for SPV assignments, "SPV Register"). Any participation ; provided that no Lender shall have any obligation to disclose all or any portion of such Registered Loan and any assignment to a SPV (and any registered note, if any, evidencing the same shall expressly so provide) may be effected only by the registration of such participation or assignment on the Participant Register (including the identity of any participant or SPV Registerany information relating to a participant's interest in any commitments, loans, letters of credit or its other Obligations) to any Person except to the extent that such disclosure is necessary to establish that the an Indebtedness of the Borrower is in “registered form” for tax purposes.

Appears in 1 contract

Samples: Management Services Agreement (Cinedigm Corp.)

Records of Lenders. Each Lender shall maintain in accordance with its usual practice accounts evidencing Indebtedness of the Borrower to such Lender resulting from each Loan of such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time under this Agreement. In addition, each Lender having sold a participation in any of its Obligations or having identified an SPV as such to the Administrative Agent, acting as a non-fiduciary agent of the Borrower solely for this purpose and solely for tax purposes, shall establish and maintain at its address referred to in Section 11.11 (or at such other address as such Lender shall notify the Borrower) a record of ownership, in which such Lender shall register by book entry (A) the name and address of each such participant and SPV (and each change thereto, whether by assignment or otherwise) and (B) the rights, interest or obligation of each such participant and SPV in any Obligation, in any Commitment and in any right to receive any payment hereunder (a register for participants, "Participant Register" and a register for SPV assignments, "SPV Register"). Any participation of such Registered Loan and any assignment to a SPV (and any registered note, if any, evidencing the same shall expressly so provide) may be effected only by the registration of such participation or assignment on the Participant Register or SPV Register.

Appears in 1 contract

Samples: Second Lien Credit Agreement (Clearlake Capital Partners, LLC)

AutoNDA by SimpleDocs

Records of Lenders. Each Lender shall maintain in accordance with its usual practice accounts evidencing Indebtedness of the Borrower to such Lender resulting from each Loan of such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time under this Agreement. In addition, each Lender having sold a participation in any of its Obligations or having identified an SPV as such to the Administrative AgentBorrower, acting as a non-fiduciary agent of the Borrower solely for this purpose and solely for tax purposes, shall establish and maintain at its address referred to in Section 11.11 10.11 (or at such other address as such Lender shall notify the Borrower) a record of ownership, in which such Lender shall register by book entry (Ai) the name and address of each such participant and SPV (and each change thereto, whether by assignment or otherwise) and (Bii) the rights, interest or obligation of each such participant and SPV in any Obligation, in any Commitment and in any right to receive any payment hereunder hereunder, including the amount of any principal or interest due from, and payable or paid by, the Borrower with respect to any Obligation (a register for participants, "the “Participant Register" and a register for SPV assignments, "SPV Register"). Any participation of such Registered Loan and any assignment to a SPV (and any registered note, if any, evidencing the same shall expressly so provide) may be effected only by the registration of such participation or assignment on the Participant Register or SPV Register.b)

Appears in 1 contract

Samples: Credit Agreement (Altus Power, Inc.)

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