Common use of Sub-participation; subrogation assignment Clause in Contracts

Sub-participation; subrogation assignment. The Lender may, with the prior consent of the Borrower, such consent not to be unreasonably withheld, sub-participate all or any part of its rights and/or obligations under, or in connection with, the Finance Documents; and the Lender may assign, in any manner and on terms agreed by it, all or any part of those rights to an insurer or surety which has become subrogated to them.

Appears in 2 contracts

Samples: Facility Agreement (Gala Properties Inc.), Loan Agreement (Diana Shipping Inc.)

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Sub-participation; subrogation assignment. The Lender may, with the prior consent of the Borrower, such consent not to be unreasonably withheld, may sub-participate all or any part of its rights and/or obligations under, under or in connection withwith the Finance Documents without the consent of, or any notice to, the Finance DocumentsBorrower; and the Lender may assign, in any manner and on terms agreed by it, all or any part of those rights to an insurer or surety which who has become subrogated to themthem Provided that any sub-participation or assignment of any rights and/or obligations under or in connection with the Pledge and Security Agreement to a company or financial institution shall be subject to the prior written consent of the Borrower.

Appears in 1 contract

Samples: Agreement (DryShips Inc.)

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Sub-participation; subrogation assignment. The Lender may, with the prior consent of the Borrower, such consent not to be unreasonably withheld, may sub-participate all or any part of its rights and/or obligations under, under or in connection withwith the Finance Documents without the consent of, or any notice to, the Finance DocumentsBorrower; and the Lender may assign, in any manner and on terms agreed by it, all or any part of those rights to an insurer or surety which who has become subrogated to themthem Provided that any sub-participation or assignment of any rights and/or obligations under or in connection with the Pledge and Security Agreement to a company or financial institution shall be subject to the prior written consent of the Borrower.";

Appears in 1 contract

Samples: Third Supplemental Agreement (DryShips Inc.)

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