Common use of Sub-Participations Clause in Contracts

Sub-Participations. A Lender may, at its own cost, grant one or more sub-participations in its rights, benefits and obligations hereunder, provided that, notwithstanding any such sub-participation, such Lender shall remain, insofar as the Borrower and the Agent is concerned, as the Lender responsible hereunder, and the Borrower shall not be obliged to recognize any such sub-participant as having the rights against it which it would have if it had been a party hereto.

Appears in 4 contracts

Samples: Credit Agreement (Videotron Ltee), Credit Agreement (Videotron Ltee), Credit Agreement (Cgi Group Inc)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.