Common use of Successors; Participations and Assignments Clause in Contracts

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 Lenders. (b) Any 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 Lender grants any such participating interest to a Participant, whether or not upon notice to the Borrower and the Administrative Agent, such 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 Lender in connection with such Lender's rights and obligations under this Agreement. Any agreement pursuant to which any Lender may grant such a participating interest shall provide that such 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 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)

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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 LendersBanks. (b) Any Lender 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 Lender Bank grants any such participating interest to a Participant, whether or not upon notice to the Borrower and the Administrative Agent, such Lender 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 Lender Bank in connection with such LenderBank's rights and obligations under this Agreement. Any agreement pursuant to which any Lender Bank may grant such a participating interest shall provide that such Lender 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 Lender Bank 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 (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 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 Lenders. (b) Any Lender may at any time grant to one or more banks or other institutions (each a "PARTICIPANTParticipant") participating interests in its WC Commitment or any or all of its LoansAdvances. If a Lender grants any such participating interest to a Participant, whether or not upon notice to the Borrower Borrowers and the Administrative Agent, such 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 Lender in connection with such Lender's rights and obligations under this Agreement. Any agreement pursuant to which any Lender may grant such a participating interest shall provide that such 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 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 LendersBanks. (b) Any Lender 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 Lender Bank grants any such participating interest to a Participant, whether or not upon notice to the Borrower and the Administrative Agent, such Lender 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 Lender Bank in connection with such LenderBank's rights and obligations under this Agreement. Any agreement pursuant to which any Lender Bank may grant such a participating interest shall provide that such Lender 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 Lender 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 (Acx Technologies Inc)

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 Lenders. (b) Any 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 Lender grants any such participating interest to a Participant, whether or not upon notice to the Borrower and the Administrative Agent, such 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 Lender in connection with such Lender's rights and obligations under this Agreement. Any agreement pursuant to which any Lender may grant such a participating interest shall provide that such 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 Lender 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 (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 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 LendersBanks. (b) Any Lender 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 Lender Bank grants any such participating interest to a Participant, whether or not upon notice to the Borrower and the Administrative Agent, such Lender 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 Lender Bank in connection with such LenderBank's rights and obligations under this Agreement. Any agreement pursuant to which any Lender Bank may grant such a participating interest shall provide that such Lender 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 Lender 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 may not assign or otherwise transfer any of its rights under this Agreement without the prior written consent of all the LendersLender Parties. (b) Any 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 LoansLoans and participations in Letters of Credit. If a Lender grants any such participating interest to a Participant, whether or not upon notice to the Borrower and the Administrative Agent, such 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 Lender in connection with such Lender's rights and obligations under this Agreement. Any agreement pursuant to which any Lender may grant such a participating interest shall provide that such 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 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

Appears in 1 contract

Samples: Credit Agreement (Sybron Chemicals Inc)

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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 Lenders. (b) Any Lender may at any time grant to one or more banks or other institutions (each a "PARTICIPANTParticipant") participating interests in its WC Commitment or any or all of its LoansAdvances. If a Lender grants any such participating interest to a Participant, whether or not upon notice to the Borrower Borrowers and the Administrative Agent, such 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 Lender in connection with such Lender's rights and obligations under this Agreement. Any agreement pursuant to which any Lender may grant such a participating interest shall provide that such 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 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 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 LendersLender Parties. (b) Any 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 LoansLoans and participations in Letters of Credit. If a Lender grants any such participating interest to a Participant, whether or not upon notice to the Borrower and the Administrative Agent, such 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 Lender in connection with such Lender's rights and obligations under this Agreement. Any agreement pursuant to which any Lender may grant such a participating interest shall provide that such 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 Lender will not agree to any modification, amendment or waiver of this Agreement or any Collateral Document described in clause (iv), (iiw) or (iiix) of SectionSection 10.05(a)(i) or the proviso in the first sentence of Section 10.05(a)

Appears in 1 contract

Samples: Credit Agreement (Marvel Enterprises Inc)

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 LendersLender Parties. (b) Any 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 "PARTICIPANT") participating interests in its Commitment Commitments or any or all of its LoansLoans and Letter of Credit Liabilities. If a Lender grants any such participating interest to a Participant, whether or not upon notice to the Borrower and the Administrative Agent, such 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 Lender in connection with such Lender's rights and obligations under this Agreement. Any agreement pursuant to which any Lender may grant such a participating interest shall provide that such 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 Lender will not agree to any modification, amendment or waiver of this Agreement described in clause (i), ) or (ii) or (iii) of Section

Appears in 1 contract

Samples: Credit Agreement (Lyondell Chemical Co)

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