Transfers and Participations. Lenders will have the right to transfer or sell participations in their loans or commitments with the transferability of voting rights in the case of participations limited to changes in principal, rate, fees and term. Assignments, which must be in amounts of at least $5 million, will be allowed with the consent of the Administrative Agent and (so long as no Event of Default as to it has occurred and is continuing) the Borrower (such consent not to be unreasonably withheld); provided that assignments will be allowed within the Lender group and to a Lender’s affiliates without any consent requirement. In connection with each assignment, the assignor Lender will pay the Administrative Agent a $3,500 processing fee. Required Lenders: Majority of the aggregate amount of the commitments.
Appears in 4 contracts
Samples: Revolving Credit Agreement (Southern Union Co), Term Loan Credit Agreement (Southern Union Co), Revolving Credit Agreement (Southern Union Co)
