Common use of Transfer by Investors Clause in Contracts

Transfer by Investors. The Credit Parties shall not permit any Transfer of an interest in a Borrower unless explicitly permitted pursuant to this Section 9.5. The Borrowers shall notify the Administrative Agent of any such Transfer by any Investor of all or a portion of any interest in any Borrower at least five (5) Business Days before the proposed Transfer, and shall, promptly upon receipt thereof, deliver to the Administrative Agent copies of any proposed assignment agreement and other documentation delivered to, or required of such Investor by, the Borrower. In order for a new Investor to be deemed to be an Included Investor or a Designated Investor, such new Investor must satisfy the criteria therefor as set out in this Credit Agreement. If the transfer of an Investor interest to a new Investor would result in a mandatory prepayment pursuant to Section 3.5(b) (due to the transferee not being designated as an Included Investor or a Designated Investor or otherwise), such mandatory prepayment shall be calculated and paid to the Administrative Agent prior to the effectiveness of the transfer. Subject to compliance with the preceding sentence and Section 9.5(b), any assignment by an Investor shall be permitted.