Successors; Participations and Assignments. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, except that the Borrower may not assign or otherwise transfer any of its rights under this Agreement without the prior written consent of all the Banks. (b) Any Bank may at any time grant to one or more banks or other institutions (each a "Participant") participating interests in its Commitment or any or all of its Loans. If a Bank grants any such participating interest to a Participant, whether or not upon notice to the Borrower and the Administrative Agent, such Bank shall remain responsible for the performance of its obligations hereunder, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Bank in connection with such Bank's rights and obligations under this Agreement. Any agreement pursuant to which any Bank may grant such a participating interest shall provide that such Bank shall retain the sole right and responsibility to enforce the obligations of the Borrower hereunder including, without limitation, the right to approve any amendment, modification or waiver of any provision of this Agreement; provided that such participation agreement may provide that such Bank will not agree to any modification, amendment or waiver of this Agreement described in clause (i), (ii), or (iii) of Section
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Samples: Credit Agreement (Guidant Corp), Credit Agreement (Guidant Corp)
Successors; Participations and Assignments. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, except that the Borrower may not assign or otherwise transfer any of its rights under this Agreement without the prior written consent of all the BanksLenders.
(b) Any Bank Lender may at any time grant to one or more banks or other institutions (each a "ParticipantPARTICIPANT") participating interests in its Commitment or any or all of its Loans. If a Bank Lender grants any such participating interest to a Participant, whether or not upon notice to the Borrower and the Administrative Agent, such Bank Lender shall remain responsible for the performance of its obligations hereunder, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Bank Lender in connection with such BankLender's rights and obligations under this Agreement. Any agreement pursuant to which any Bank Lender may grant such a participating interest shall provide that such Bank Lender shall retain the sole right and responsibility to enforce the obligations of the Borrower hereunder including, without limitation, the right to approve any amendment, modification or waiver of any provision of this Agreement; provided that such participation agreement may provide that such Bank Lender will not agree to any modification, amendment or waiver of this Agreement described in clause (i), (ii), ) or (iii) of Section
Appears in 2 contracts
Samples: Credit Agreement (Marsh & McLennan Companies Inc), Credit Agreement (Marsh & McLennan Companies Inc)
Successors; Participations and Assignments. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto hereto. the Collateral Agent and their respective successors and assigns, except that the Borrower may not assign or otherwise transfer any of its rights under this Agreement without the prior written consent of all the BanksLender Parties.
(b) Any Bank Lender may at any time grant to one or more banks or other institutions (each a "Participant") participating interests in its Commitment or any or all of its LoansLoans and participations in Letters of Credit. If a Bank Lender grants any such participating interest to a Participant, whether or not upon notice to the Borrower and the Administrative Agent, such Bank Lender shall remain responsible for the performance of its obligations hereunder, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Bank Lender in connection with such BankLender's rights and obligations under this Agreement. Any agreement pursuant to which any Bank Lender may grant such a participating interest shall provide that such Bank Lender shall retain the sole right and responsibility to enforce the obligations of the Borrower hereunder including, without limitation, the right to approve any amendment, modification or waiver of any provision of this Agreement; provided that such participation agreement may provide that such Bank Lender will not agree to any modification, amendment or waiver of this Agreement or any Collateral Document described in clause (iv), (ii), w) or (iiix) of SectionSection 10.05(a)(i) or the proviso in the first sentence of Section 10.05(a)
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Successors; Participations and Assignments. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, except that the Borrower may not assign or otherwise transfer any of its rights under this Agreement without the prior written consent of all the Banks.
(b) Any Bank may at any time grant to one or more banks or other institutions (each a "Participant") participating interests in its Commitment or any or all of its Loans. If a Bank grants any such participating interest to a Participant, whether or not upon notice to the Borrower and the Administrative Agent, such Bank shall remain responsible for the performance of its obligations hereunder, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Bank in connection with such Bank's rights and obligations under this Agreement. Any agreement pursuant to which any Bank may grant such a participating interest shall provide that such Bank shall retain the sole right and responsibility to enforce the obligations of the Borrower hereunder including, without limitation, the right to approve any amendment, modification or waiver of any provision of this Agreement; provided that such participation agreement may provide that such Bank will not agree to any modification, amendment or waiver of this Agreement described in clause (i), (ii), ) or (iii) of Section
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Successors; Participations and Assignments. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, except that the Borrower may not assign or otherwise transfer any of its rights under this Agreement without the prior written consent of all the BanksLender Parties.
(b) Any Bank Lender may at any time grant to one or more banks or other institutions (each a "Participant") participating interests in its Commitment or any or all of its LoansLoans and participations in Letters of Credit. If a Bank Lender grants any such participating interest to a Participant, whether or not upon notice to the Borrower and the Administrative Agent, such Bank Lender shall remain responsible for the performance of its obligations hereunder, and the Borrower Borrower, the Issuers, the Swingline Bank and the Administrative Agent Agents shall continue to deal solely and directly with such Bank Lender in connection with such BankLender's rights and obligations under this Agreement. Any agreement pursuant to which any Bank Lender may grant such a participating interest shall provide that such Bank Lender shall retain the sole right and responsibility to enforce the obligations of the Borrower Borrower, the Issuers and the Swingline Bank hereunder including, without limitation, the right to approve any amendment, modification or waiver of any provision of this Agreement; provided that such participation agreement may provide that such Bank Lender will not agree to any modification, amendment or waiver of this Agreement described in clause (i), (ii), (iii)(B) or (iiiiii)(C) of Section
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Successors; Participations and Assignments. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, except that the Borrower may not assign or otherwise transfer any of its rights under this Agreement without the prior written consent of all the BanksLender Parties.
(b) Any Bank Lender may at any time grant to one or more banks banks, institutions or other institutions entities that regularly make, purchase or invest in bank loans (each a "ParticipantPARTICIPANT") participating interests in its Commitment Commitments or any or all of its LoansLoans and Letter of Credit Liabilities. If a Bank Lender grants any such participating interest to a Participant, whether or not upon notice to the Borrower and the Administrative Agent, such Bank Lender shall remain responsible for the performance of its obligations hereunder, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Bank Lender in connection with such BankLender's rights and obligations under this Agreement. Any agreement pursuant to which any Bank Lender may grant such a participating interest shall provide that such Bank Lender shall retain the sole right and responsibility to enforce the obligations of the Borrower hereunder including, without limitation, the right to approve any amendment, modification or waiver of any provision of this Agreement; provided that such participation agreement may provide that such Bank Lender will not agree to any modification, amendment or waiver of this Agreement described in clause (i), ) or (ii), or (iii) of Section
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Successors; Participations and Assignments. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto hereto, the Collateral Agent and their respective successors and assigns, except that the Borrower may not assign or otherwise transfer any of its rights under this Agreement without the prior written consent of all the BanksLender Parties.
(b) Any Bank Lender may at any time grant to one or more banks or other institutions (each a "Participant") participating interests in its Commitment or any or all of its LoansLoans and participations in Letters of Credit. If a Bank Lender grants any such participating interest to a Participant, whether or not upon notice to the Borrower and the Administrative Agent, such Bank Lender shall remain responsible for the performance of its obligations hereunder, and the Borrower Borrower, the Issuer and the Administrative Agent shall continue to deal solely and directly with such Bank Lender in connection with such BankLender's rights and obligations under this Agreement. Any agreement pursuant to which any Bank Lender may grant such a participating interest shall provide that such Bank Lender shall retain the sole right and responsibility to enforce the obligations of the Borrower and the Issuer hereunder including, without limitation, the right to approve any amendment, modification or waiver of any provision of this Agreement; provided that such participation agreement may provide that such Bank Lender will not agree to any modification, amendment or waiver of this Agreement or any Collateral Document described in clause (iv), (ii), w) or (iiix) of SectionSection 10.05(a)(i) or the proviso in the first sentence of Section 10.05
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Successors; Participations and Assignments. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, except that the no Borrower may not assign or otherwise transfer any of its rights and obligations under this Agreement without the prior written consent of all the BanksLenders.
(b) Any Bank Lender may at any time grant to one or more banks or other institutions (each a "Participant") participating interests in its WC Commitment or any or all of its LoansAdvances. If a Bank Lender grants any such participating interest to a Participant, whether or not upon notice to the Borrower Borrowers and the Administrative Agent, such Bank Lender shall remain responsible for the performance of its obligations hereunder, and the Borrower Borrowers and the Administrative Agent shall continue to deal solely and directly with such Bank Lender in connection with such BankLender's rights and obligations under this Agreement. Any agreement pursuant to which any Bank Lender may grant such a participating interest shall provide that such Bank Lender shall retain the sole right and responsibility to enforce the obligations of the Borrower Borrowers hereunder including, without limitation, the right to approve any amendment, modification or waiver of any provision of this Agreement; provided that such participation agreement may provide that such Bank Lender will not agree to any modification, amendment or waiver of this Agreement described in clause clauses (i), (ii), or (iiii)-(ix) of Section
Appears in 1 contract
Samples: Credit Agreement (Ace LTD)
Successors; Participations and Assignments. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, except that the Borrower may not assign or otherwise transfer any of its rights under this Agreement without the prior written consent of all the Banks.
(b) Any Bank may at any time grant to one or more banks or other institutions (each a "ParticipantPARTICIPANT") participating interests in its Commitment or any or all of its Loans. If a Bank grants any such participating interest to a Participant, whether or not upon notice to the Borrower and the Administrative Agent, such Bank shall remain responsible for the performance of its obligations hereunder, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Bank in connection with such Bank's rights and obligations under this Agreement. Any agreement pursuant to which any Bank may grant such a participating interest shall provide that such Bank shall retain the sole right and responsibility to enforce the obligations of the Borrower hereunder including, without limitation, the right to approve any amendment, modification or waiver of any provision of this Agreement; provided that such participation agreement may provide that such Bank will not agree to any modification, amendment or waiver of this Agreement described in clause (i), (ii), or (iii) of Section
Appears in 1 contract
Samples: Credit Agreement (Guidant Corp)
Successors; Participations and Assignments. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, except that the Borrower no Loan Party may not assign or otherwise transfer any of its rights and obligations under this Agreement without the prior written consent of all the BanksLenders.
(b) Any Bank Lender may at any time grant to one or more banks or other institutions (other than the Parent or any of its Subsidiaries or Affiliates) (each a "“Participant"”) participating interests in its Commitment or any or all of its LoansAdvance. If a Bank Lender grants any such participating interest to a Participant, whether or not upon notice to the Borrower and the Administrative Agent, such Bank Lender shall remain responsible for the performance of its obligations hereunder, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Bank Lender in connection with such Bank's Lender’s rights and obligations under this Agreement. Any agreement pursuant to which any Bank Lender may grant such a participating interest shall provide that such Bank Lender shall retain the sole right and responsibility to enforce the obligations of the Borrower Loan Parties hereunder including, without limitation, including the right to approve any amendment, modification or waiver of any provision of this Agreement; provided that such participation agreement may provide that such Bank Lender will not agree to any modification, amendment or waiver of this Agreement described in clause Section 9.01(a) and (i)b) without the consent of the Participant. The Borrower agrees that each Participant shall, (ii)to the extent provided in its participation agreement, be entitled to the benefits of Section 2.08, 2.10 and 9.04(c) with respect to its participating interest. An assignment or (iiiother transfer which is not permitted by Section 9.06(c) of Sectionor 9.06
Appears in 1 contract
Samples: Term Loan Agreement (Ace LTD)
Successors; Participations and Assignments. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, except that the no Borrower may not assign or otherwise transfer any of its rights or obligations under this Agreement without the prior written consent of all the BanksLenders.
(b) Any Bank Lender may at any time grant to one or more banks or other institutions (each a "Participant") participating interests in its WC Commitment or any or all of its LoansAdvances. If a Bank Lender grants any such participating interest to a Participant, whether or not upon notice to the Borrower Borrowers and the Administrative Agent, such Bank Lender shall remain responsible for the performance of its obligations hereunder, and the Borrower Borrowers and the Administrative Agent shall continue to deal solely and directly with such Bank Lender in connection with such BankLender's rights and obligations under this Agreement. Any agreement pursuant to which any Bank Lender may grant such a participating interest shall provide that such Bank Lender shall retain the sole right and responsibility to enforce the obligations of the Borrower Borrowers hereunder including, without limitation, the right to approve any amendment, modification or waiver of any provision of this Agreement; provided that such participation agreement may provide that such Bank Lender will not agree to any modification, amendment or waiver of this Agreement described in clause clauses (i), (ii), or (iiii)-(ix) of Section
Appears in 1 contract
Samples: 364 Day Credit Agreement (Ace LTD)
Successors; Participations and Assignments. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, except that the Borrower may not assign or otherwise transfer any of its rights under this Agreement without the prior written consent of all the BanksLenders.
(b) Any Bank Lender may at any time grant to one or more banks or other institutions (each a "Participant") participating interests in its Commitment or any or all of its Loans. If a Bank Lender grants any such participating interest to a Participant, whether or not upon notice to the Borrower and the Administrative Agent, such Bank Lender shall remain responsible for the performance of its obligations hereunder, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Bank Lender in connection with such BankLender's rights and obligations under this Agreement. Any agreement pursuant to which any Bank Lender may grant such a participating interest shall provide that such Bank Lender shall retain the sole right and responsibility to enforce the obligations of the Borrower hereunder including, without limitation, the right to approve any amendment, modification or waiver of any provision of this Agreement; provided that such participation agreement may provide that such Bank Lender will not agree to any modification, amendment or waiver of this Agreement described in clause (i), (ii), ) or (iii) of Section
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