Common use of Sub-participations Clause in Contracts

Sub-participations. Nothing in this Clause 6.9 shall, or shall be deemed to, prevent any Lender from selling any participation or similar interest in its Commitment or Loans and the Borrower hereby acknowledges and agrees that in connection with any such sale, the seller of any such participation shall be entitled to claim under the provisions of Clauses 7.2, 7.3, 7.4, 7.5, 17.4, 17.7, 18.3 and 18.4 of the Common Terms Agreement on behalf of the purchaser of any such participation as if such purchaser was named as a Lender in such provisions (but in no event shall such seller be entitled to claim any amount on behalf of any such purchaser under any such provision which is in excess of the amount which such seller would then be entitled to claim under such provision in respect of the portion of its Commitments or Loans so participated); provided, however, that: (i) for the avoidance of doubt, the sale by any Lender of any such participation or similar interest shall not relieve such Lender of any of its obligations hereunder; and (ii) the Obligors shall be required to deal only with the Lenders and not with any purchaser of a participation from any Lender.

Appears in 2 contracts

Samples: Loan Agreement (Bema Gold Corp /Can/), Loan Agreement (Bema Gold Corp /Can/)

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Sub-participations. Nothing in this Clause 6.9 11 shall, or shall be deemed to, prevent any Lender from selling any participation or similar interest in its Commitment or Loans and the Borrower Obligors hereby acknowledges acknowledge and agrees agree that in connection with any such sale, the seller of any such participation shall be entitled to claim under the provisions of Clauses 7.2Clause 5.2, 7.35.3, 7.45.4, 7.55.5, 17.45.6, 17.75.8, 18.3 5.9, 5.11(b), 11.3 and 18.4 of the Common Terms Agreement 11.4 hereof on behalf of the purchaser of any such participation as if such purchaser was named as a Lender in such provisions (but in no event shall such seller be entitled to claim any amount on behalf of any such purchaser under any such provision which is in excess of the amount which such seller would then be entitled to claim under such provision in respect of the portion of its Commitments or Loans so participated); provided, however, that: (ia) for the avoidance of doubt, the sale by any Lender of any such participation or similar interest shall not relieve such Lender of any of its obligations hereunder; , and (iib) the Obligors shall be required to deal only with the Lenders and not with any purchaser of a participation from any Lender.

Appears in 1 contract

Samples: Loan Agreement (Randgold Resources LTD)

Sub-participations. Nothing in this Clause 6.9 14.11 shall, or shall be deemed to, prevent any Lender from selling any participation or similar interest in its Commitment or Loans and the Borrower hereby acknowledges and agrees that in connection with any such sale, the seller of any such participation shall be entitled to claim under the provisions of Clauses 7.2Clause 5.2, 7.35.3, 7.45.4, 7.55.5, 17.413.2, 17.713.5, 18.3 14.3 and 18.4 of the Common Terms Agreement 14.4 on behalf of the purchaser of any such participation as if such purchaser was named as a Lender in such provisions (but in no event shall such seller be entitled to claim any amount on behalf of any such purchaser under any such provision which is in excess of the amount which such seller would then be entitled to claim under such provision in respect of the portion of its Commitments or Loans so participated); providedPROVIDED, howeverHOWEVER, that: (ia) for the avoidance of doubt, the sale by any Lender of any such participation or similar interest shall not relieve such Lender of any of its obligations hereunder; and (iib) the Obligors shall be required to deal only with the Lenders and not with any purchaser of a participation from any Lender.

Appears in 1 contract

Samples: Project Term Loan Facility Agreement (Randgold Resources LTD)

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Sub-participations. Nothing in this Clause 6.9 10.11 shall, or shall be deemed to, prevent any Lender from selling any participation or similar interest in its Commitment or Loans and the Borrower hereby acknowledges and agrees that in connection with any such sale, the seller of any such participation shall be entitled to claim under the provisions of Clauses 7.2Clause 4.2, 7.34.3, 7.44.4, 7.54.5, 17.44.8, 17.7, 18.3 4.11 10.3 and 18.4 of the Common Terms Agreement 10.4 hereof on behalf of the purchaser of any such participation as if such purchaser was named as a Lender in such provisions (but in no event shall such seller be entitled to claim any amount on behalf of any such purchaser under any such provision which is in excess of the amount which such seller would then be entitled to claim under such provision in respect of the portion of its Commitments or Loans so participated); providedPROVIDED, howeverHOWEVER, that: (ia) for the avoidance of doubt, the sale by any Lender of any such participation or similar interest shall not relieve such Lender of any of its obligations hereunder; and (iib) the Obligors shall be required to deal only with the Lenders and not with any purchaser of a participation from any Lender.

Appears in 1 contract

Samples: Loan Agreement (Randgold Resources LTD)

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