Common use of Transfer of Security Clause in Contracts

Transfer of Security. If Royal Bank of Canada, in its capacity as Agent, or any successor thereto, in its capacity as Agent ceases to be the Agent (the “Departing Agent”), the Departing Agent shall transfer and assign all of its right, title and interest in its capacity as Agent in and to the Security to the Successor Agent and the provisions of Section 10.2 shall apply, mutatis mutandis, with respect to such assignment and transfer.

Appears in 2 contracts

Samples: Credit Agreement (Obsidian Energy Ltd.), Credit Agreement (Obsidian Energy Ltd.)

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Transfer of Security. If Royal Bank of Canada, in its capacity as Agent, or any successor thereto, in its capacity as Agent ceases to be the Agent (the “Departing Agent”), the Departing Agent shall transfer and assign all of its right, title and interest in its capacity as Agent in and to the Security to the Successor Agent and the provisions of Section 10.2 11.2 shall apply, mutatis mutandis, with respect to such assignment and transfer.

Appears in 1 contract

Samples: Credit Agreement (Pacific Energy Partners Lp)

Transfer of Security. If Royal Canadian Imperial Bank of CanadaCommerce, in its capacity as Agent, or any successor thereto, in its capacity as Agent ceases to be the Agent (the "Departing Agent"), the Departing Agent shall transfer and assign all of its right, title and interest in its capacity as Agent in and to the Security to the Successor Agent and the provisions of Section 10.2 11.2 shall apply, mutatis mutandis, with respect to such assignment and transfer.

Appears in 1 contract

Samples: Credit Facilities (Hammerhead Energy Inc.)

Transfer of Security. If Royal Canadian Imperial Bank of CanadaCommerce, in its capacity as Agent, or any successor thereto, in its capacity as Agent ceases to be the Agent (the “Departing Agent”), the Departing Agent shall transfer and assign all of its right, title and interest in its capacity as Agent in and to the Security to the Successor Agent and the provisions of Section 10.2 11.2 shall apply, mutatis mutandis, with respect to such assignment and transfer.

Appears in 1 contract

Samples: Credit Agreement (Hammerhead Energy Inc.)

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Transfer of Security. If Royal Bank of CanadaThe Toronto-Dominion Bank, in its capacity as Agent, or any successor thereto, in its capacity as Agent ceases to be the Agent (the "Departing Agent"), the Departing Agent shall transfer and assign all of its right, title and interest in its capacity as Agent in and to the Security to the Successor Agent and the provisions of Section 10.2 11.2 shall apply, mutatis mutandis, with respect to such assignment and transfer.

Appears in 1 contract

Samples: Credit Agreement (Baytex Energy Corp.)

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