Common use of Sales, Assignments Clause in Contracts

Sales, Assignments. Each Lender hereby agrees that, with respect to any sale or assignment (i) no such sale or assignment shall be for an amount of less than the lesser of (a) $5,000,000 and (b) such Lender's total Revolving Loan Commitment at such time, (ii) each such sale or assignment shall be made on terms and conditions which are customary in the industry at the time of the transaction, (iii) Agent and, unless an Event of Default is then in existence, Borrower, must consent, no such consent to be unreasonably withheld or delayed, to each such assignment to a party which is not an original signatory to this Agreement and (iv) the assigning Lender shall pay to the Agent a processing and recordation fee of $3,500 and any out-of-pocket attorneys' fees and expenses incurred by the Agent in connection with any such sale or assignment. After such sale or assignment has been consummated (x) the assignee lender thereupon shall become a "Lender" for all purposes of this Agreement and (y) the assigning Lender shall have no further liability for funding the portion of Revolving Loan Commitments assumed by such other Lender.

Sales, Assignments. Each Lender hereby agrees that, with respect to any sale or assignment (i) no such sale or assignment shall be for an amount of less than the lesser of (a) $5,000,000 and (b) such Lender's total $1,000,000 increments in excess of $5,000,000 or, if less, the entire remaining Revolving Loan Commitment at of such timeLender, (ii) each such sale or assignment shall be made on terms and conditions which are customary in the industry at the time of the transaction, (iii) Agent and, unless an in the absence of a Default or Event of Default is then in existenceDefault, each Borrower, must consent, no such consent not to be unreasonably withheld or delayedwithheld, to each such assignment to a party which bank or lending institution that is not an original signatory a Lender to this Agreement and (or an Affiliate of a Lender to this Agreement), (iv) the assigning Lender or assignee Lender shall pay to the Agent a processing and recordation fee of $3,500 and any out-of-pocket attorneys' fees and expenses incurred by the Agent in connection with any such sale or assignmentassignment (excluding sales or assignments by any Lender to an Affiliate of such Lender) and (v) Agent, the assigning Lender and the assignee Lender shall each have executed and delivered an Assignment and Acceptance Agreement. After such sale or assignment has been consummated (x) the assignee lender Lender thereupon shall become a "Lender" for all purposes of this Agreement and (y) the assigning Lender shall have no further liability for funding the portion of Revolving Loan Commitments assumed by such other Lender.