Common use of Transfers by Banks Clause in Contracts

Transfers by Banks. Subject to the prior written consent of the Borrower (such consent not to be unreasonably withheld or delayed and the request for which to be promptly responded to), any Bank (the "Transferor Bank") may at any time cause all or any part of its rights, benefits and/or obligations under this Agreement and the Security Documents to be transferred to any other bank or financial institution (a "Transferee Bank") by delivering to the Agent a Transfer Certificate duly completed and duly executed by the Transferor Bank and the Transferee Bank. No such transfer is binding on, or effective in relation to, the Borrower or the Agent unless (i) it is effected or evidenced by a Transfer Certificate which complies with the provisions of this clause 15.3 and is signed by or on behalf of the Transferor Bank, the Transferee Bank and the Agent (on behalf of itself, the Borrower and the other Creditors) and (ii) such transfer of rights under the other Security Documents as the Agent or the Transferee Bank may deem necessary has been effected and registered. The Borrower's consent referred to above shall not be required in respect of a transfer if the relevant Transferee Bank is a Related Company of the relevant Transferor Bank. Upon signature of any such Transfer Certificate by the Agent, which signature shall be effected as promptly as is practicable after such Transfer Certificate has been delivered to the Agent, and subject to the terms of such Transfer Certificate, such Transfer Certificate shall have effect as set out below. The following further provisions shall have effect in relation to any Transfer Certificate:

Transfers by Banks. Subject to the prior written consent of (a) the Borrower Borrowers (such which consent shall not to be unreasonably withheld or delayed and the request for which to shall be promptly responded to)) and (b) each Arranger in its absolute discretion, any Bank (the "“Transferor Bank"”) may at any time time, cause all or any part of its rights, benefits and/or obligations under this Agreement and the Security Documents to be transferred to any other bank or financial institution or other person whatsoever (a "“Transferee Bank"”) by delivering to the Agent a Transfer Certificate duly completed and duly executed by the Transferor Bank and the Transferee Bank. No such transfer is binding on, or effective in relation to, the Borrower Borrowers or the Agent or the other Creditors unless (i) it is effected or evidenced by a Transfer Certificate which complies with the provisions of this clause 15.3 and is signed by or on behalf of the Transferor Bank, the Transferee Bank and the Agent (on behalf of itself, the Borrower Borrowers and the other Creditors) and (ii) such transfer of rights under the other Security Documents as the Agent or the Transferee Bank may deem necessary has been effected and registeredregistered to the satisfaction of the Agent. The Borrower's Borrowers’ consent referred to above shall not be required in respect of a transfer if (1) the relevant Transferee Bank is a Related Company of the Transferor Bank or (2) an Event of Default has occurred which is continuing at the time of the relevant Transferor Banktransfer. Upon signature of any such Transfer Certificate by the Agent, which signature shall be effected as promptly as is practicable after such Transfer Certificate has been delivered to the Agent, and subject to the terms of such Transfer Certificate, such Transfer Certificate shall have effect as set out below. The following further provisions shall have effect in relation to any Transfer Certificate:

Transfers by Banks. Subject to the prior written consent of the Borrower (such consent not to be unreasonably withheld or delayed and the request for which to be promptly responded to), any Any Bank (the "“Transferor Bank"”) may at any time (without the consent of the Borrower) cause all or any part of its rights, benefits and/or obligations under this Agreement and the Security Documents to be transferred to any other bank or financial institution (provided that there shall be no more than two Banks at any one time) or other company or legal entity to be used in a "securitisation of that Bank’s loan (a “Transferee Bank"”) by delivering to the Agent a Transfer Certificate duly completed and duly executed by the Transferor Bank and the Transferee Bank. No such transfer is binding on, or effective in relation to, the Borrower or the Agent unless (i) it is effected or evidenced by a Transfer Certificate which complies with the provisions of this clause 15.3 and is signed by or on behalf of the Transferor Bank, the Transferee Bank and the Agent (on behalf of itself, the Borrower and the other Creditors) and (ii) such transfer of rights under the other Security Documents as the Agent or the Transferee Bank may deem necessary has been effected and registered. The Borrower's consent referred to above shall not be required in respect of a transfer if the relevant Transferee Bank is a Related Company of the relevant Transferor Bank. Upon signature of any such Transfer Certificate by the Agent, which signature shall must be effected as promptly as is practicable after such Transfer Certificate has been delivered to the Agent, and subject to the terms of such Transfer Certificate, such Transfer Certificate shall have effect as set out below. The following further provisions shall have effect in relation to any Transfer Certificate:

Transfers by Banks. Subject to the prior written consent of the Borrower Borrowers (such consent not to be unreasonably withheld or delayed and the request for which to be promptly responded to), any Bank (the "Transferor Bank"“Transferor”) may at any time cause all or any part of its rights, benefits and/or obligations under this Agreement and the Security Documents to be transferred to any other person (including, without limitation, a bank or financial institution institution) (a "Transferee Bank"“Transferee”) by delivering to the Agent a Transfer Certificate duly completed and duly executed by the Transferor Bank and the Transferee BankTransferee. No such transfer is binding on, or effective in relation to, the Borrower Borrowers or the Agent unless (i) it is effected or evidenced by a Transfer Certificate which complies with the provisions of this clause 15.3 and is signed by or on behalf of the Transferor BankTransferor, the Transferee Bank and the Agent (on behalf of itself, the Borrower Borrowers and the other Creditors) and (ii) such transfer of rights under the other Security Documents as the Agent or the Transferee Bank may deem necessary has been effected and registered. The Borrower's consent referred to above shall not be required in respect of a transfer if the relevant Transferee Bank is a Related Company of the relevant Transferor Bank. Upon signature of any such Transfer Certificate by the Agent, which signature shall be effected as promptly as is practicable after such Transfer Certificate has been delivered to the Agent, and subject to the terms of such Transfer Certificate, such Transfer Certificate shall have effect as set out below. The following further provisions shall have effect in relation to any Transfer Certificate:

Transfers by Banks. Subject to the prior written consent of the Borrower (such consent not to Provided that there may be unreasonably withheld or delayed and the request for which to be promptly responded to)no more than 5 Lenders at any one time, any Bank Lender (the "“Transferor Bank"Lender”) may at any time time, without the consent of the Borrower, cause all or any part of its rights, benefits and/or obligations under this Agreement and the other Security Documents to be transferred to any other another first class international bank or financial institution (in either case a "“Transferee Bank"Lender”) by delivering to the Agent a Transfer Certificate duly completed and duly executed by the Transferor Bank Lender and the Transferee BankLender. No such transfer is binding on, or effective in relation to, the Borrower or the Agent unless (i) it is effected or evidenced by a Transfer Certificate which complies with the provisions of this clause 15.3 and is signed by or on behalf of the Transferor BankLender, the Transferee Bank Lender and the Agent (on behalf of itself, the Borrower and the other CreditorsBanks) and (ii) such transfer of rights under the other Security Documents as the Agent or the Transferee Bank may deem necessary has been effected and registered. The Borrower's consent referred to above shall not be required in respect of a transfer if the relevant Transferee Bank is a Related Company of the relevant Transferor Bank. Upon signature of any such Transfer Certificate by the Agent, which signature shall be effected as promptly as is practicable after such Transfer Certificate has been delivered to the Agent, and subject to the terms of such Transfer Certificate, such Transfer Certificate shall have effect as set out below. The following further provisions shall have effect in relation to any Transfer Certificate:

Transfers by Banks. Subject to Any Bank (the “Transferor Bank”) may at any time, with the prior written consent of the Borrower Borrowers (such consent not to be unreasonably withheld or delayed and the request for which to be promptly responded to)) and the Agent, any Bank (the "Transferor Bank") may at any time cause all or any part of its rights, benefits and/or obligations under this Agreement and the Security Documents to be transferred to any other bank or financial institution (a "“Transferee Bank"”) by delivering to the Agent a Transfer Certificate duly completed and duly executed by the Transferor Bank and the Transferee Bank. No such transfer is binding on, or effective in relation to, the Borrower Borrowers or the Agent unless (i) it is effected or evidenced by a Transfer Certificate which complies with the provisions of this clause 15.3 and is signed by or on behalf of the Transferor Bank, the Transferee Bank and the Agent (on behalf of itself, the Borrower Borrowers and the other Creditors) and (ii) such transfer of rights under the other Security Documents as the Agent or the Transferee Bank may deem necessary has been effected and registered. The Borrower's consent of the Borrowers referred to above shall not be required in respect of a transfer (the Borrowers consenting to such transfer by the execution of this Agreement) if the relevant Transferee Bank is a Related Company of the relevant Transferor Bank. Upon signature of any such Transfer Certificate by the Agent, which signature shall be effected as promptly as is practicable after such Transfer Certificate has been delivered to the Agent, and subject to the terms of such Transfer Certificate, such Transfer Certificate shall have effect as set out below. The following further provisions shall have effect in relation to any Transfer Certificate:

Transfers by Banks. Subject to the prior written consent of the Borrower (such consent not to be unreasonably withheld or delayed and the request for which to be promptly responded to), any Any Bank (the "Transferor Bank") may at any time time, following the prior written consent of the Borrowers (which consent shall not be unreasonably withheld or delayed and the request for which shall be promptly responded to) and the prior written consent of the Agent, cause all or any part of its rights, benefits and/or obligations under this Agreement and the Security Documents to be transferred to any other bank or financial institution (a "Transferee Bank") by delivering to the Agent a Transfer Certificate duly completed and duly executed by the Transferor Bank and the Transferee Bank. No such transfer is binding on, or effective in relation to, the Borrower Borrowers or the Agent unless (i) it is effected or evidenced by a Transfer Certificate which complies with the provisions of this clause 15.3 and is signed by or on behalf of the Transferor Bank, the Transferee Bank and the Agent (on behalf of itself, the Borrower Borrowers and the other Creditors) and (ii) such transfer of rights under the other Security Documents as the Agent or the Transferee Bank may deem necessary has been effected and registeredregistered in a manner satisfactory in all respects to the Agent and the relevant Transferee Bank. The Borrower's consent of the Borrowers referred to above shall not be required in respect of a transfer if (a) the relevant Transferee Bank in relation to a proposed transfer is a Related Company of the relevant Transferor Bank. Upon signature of any such Transfer Certificate by the Agent, which signature shall be effected as promptly as is practicable after such Transfer Certificate has been delivered to the Agent, and subject to the terms of such Transfer Certificate, such Transfer Certificate shall have effect as set out below. The following further provisions shall have effect in relation to any Transfer Certificate:

Transfers by Banks. Subject to the prior written consent of the Borrower Borrowers (such consent not to be unreasonably withheld or delayed and the request for which to be promptly responded to), ) and the Agent and any Bank (the "“Transferor Bank"”) may at any time cause all or any part of its rights, benefits and/or obligations under this Agreement and the Security Documents to be transferred to any other bank or financial institution experienced in shipping finance (a "“Transferee Bank"”) by delivering to the Agent a Transfer Certificate duly completed and duly executed by the Transferor Bank and the Transferee Bank. No such transfer is binding on, or effective in relation to, the Borrower Borrowers, the Agent or the Agent other Creditors unless (i) it is effected or evidenced by a Transfer Certificate which complies with the provisions of this clause 15.3 and is signed by or on behalf of the Transferor Bank, the Transferee Bank and the Agent (on behalf of itself, the Borrower Borrowers and the other Creditors) and (ii) such transfer of rights under the other Security Documents as the Agent or the Transferee Bank may deem necessary has been effected and registered. The Borrower's consent referred to above shall not be required in respect of a transfer if the relevant Transferee Bank is a Related Company of the relevant Transferor Bank. Upon signature of any such Transfer Certificate by the Agent, which signature shall be effected as promptly as is practicable after such Transfer Certificate has been delivered to the Agent, and subject to the terms of such Transfer Certificate, such Transfer Certificate shall have effect as set out below. The following further provisions shall have effect in relation to any Transfer Certificate:

Transfers by Banks. Subject to the prior written consent of the Borrower (such consent not to be unreasonably withheld or delayed and the request for which to be promptly responded to), any Bank Lender (the "“Transferor Bank"Lender”) may at any time cause all or any part of its rights, benefits and/or obligations under this Agreement and the other Security Documents to be transferred to any other another first class international bank or financial institution (in either case a "“Transferee Bank"Lender”) (i) without the Borrower’s consent if such transfer is to another branch, a subsidiary or affiliate of such Lender and (ii) otherwise with the prior consent of the Borrower, (which may not be unreasonably delayed or withheld), in each case by delivering to the Agent a Transfer Certificate duly completed and duly executed by the Transferor Bank Lender and the Transferee BankLender. No such transfer is binding on, or effective in relation to, the Borrower or the Agent unless (i) it is effected or evidenced by a Transfer Certificate which complies with the provisions of this clause 15.3 and is signed by or on behalf of the Transferor BankLender, the Transferee Bank Lender and the Agent (on behalf of itself, the Borrower and the other CreditorsBanks) and (ii) such transfer of rights under the other Security Documents as the Agent or the Transferee Bank may deem necessary has been effected and registered. The Borrower's consent referred to above shall not be required in respect of a transfer if the relevant Transferee Bank is a Related Company of the relevant Transferor Bank. Upon signature of any such Transfer Certificate by the Agent, which signature shall be effected as promptly as is practicable after such Transfer Certificate has been delivered to the Agent, and subject to the terms of such Transfer Certificate, such Transfer Certificate shall have effect as set out below. The following further provisions shall have effect in relation to any Transfer Certificate:

Transfers by Banks. Subject to the prior written consent of the Borrower (such consent not to be unreasonably withheld or delayed and the request for which to be promptly responded to), any Bank Lender (the "“Transferor Bank"Lender”) may at any time cause all or any part of its rights, benefits and/or obligations under this Agreement and the other Security Documents to be transferred to any other another first class international bank or financial institution (in either case a "“Transferee Bank"Lender”) (i) without the Borrowers’ consent if such transfer is to another branch, a subsidiary or affiliate of such Lender and (ii) otherwise with the prior consent of the Borrowers, (which may not be unreasonably delayed or withheld), in each case by delivering to the Agent a Transfer Certificate duly completed and duly executed by the Transferor Bank Lender and the Transferee BankLender. No such transfer is binding on, or effective in relation to, the Borrower Borrowers or the Agent unless (i) it is effected or evidenced by a Transfer Certificate which complies with the provisions of this clause 15.3 and is signed by or on behalf of the Transferor BankLender, the Transferee Bank Lender and the Agent (on behalf of itself, the Borrower Borrowers and the other CreditorsBanks) and (ii) such transfer of rights under the other Security Documents as the Agent or the Transferee Bank may deem necessary has been effected and registered. The Borrower's consent referred to above shall not be required in respect of a transfer if the relevant Transferee Bank is a Related Company of the relevant Transferor Bank. Upon signature of any such Transfer Certificate by the Agent, which signature shall be effected as promptly as is practicable after such Transfer Certificate has been delivered to the Agent, and subject to the terms of such Transfer Certificate, such Transfer Certificate shall have effect as set out below. The following further provisions shall have effect in relation to any Transfer Certificate:

Transfers by Banks. Subject to Any Bank (the “Transferor Bank”) may at any time, following the prior written consent of the Borrower Borrowers (such which consent shall not to be unreasonably withheld or delayed and the request for which to shall be promptly responded to)) and the prior written consent of the Agent, any Bank (the "Transferor Bank") may at any time cause all or any part of its rights, benefits and/or obligations under this Agreement and the Security Documents to be transferred to any other bank or financial institution (a "“Transferee Bank"”) by delivering to the Agent a Transfer Certificate duly completed and duly executed by the Transferor Bank and the Transferee Bank. No such transfer is binding on, or effective in relation to, the Borrower Borrowers or the Agent unless (i) it is effected or evidenced by a Transfer Certificate which complies with the provisions of this clause 15.3 and is signed by or on behalf of the Transferor Bank, the Transferee Bank and the Agent (on behalf of itself, the Borrower Borrowers and the other Creditors) and (ii) such transfer of rights under the other Security Documents as the Agent or the Transferee Bank may deem necessary has been effected and registeredregistered in a manner satisfactory in all respects to the Agent and the relevant Transferee Bank. The Borrower's consent of the Borrowers referred to above shall not be required in respect of a transfer if (a) the relevant Transferee Bank in relation to a proposed transfer is a Related Company of the relevant Transferor Bank. Upon signature of any such Transfer Certificate by the Agent, which signature shall be effected as promptly as is practicable after such Transfer Certificate has been delivered to the Agent, and subject to the terms of such Transfer Certificate, such Transfer Certificate shall have effect as set out below. The following further provisions shall have effect in relation to any Transfer Certificate:

Transfers by Banks. Subject to the prior written consent of the Borrower (such consent not to be unreasonably withheld or delayed and the request for which to be promptly responded to), any Any Bank (the "“Transferor Bank"”) may at any time (without the consent of the Borrower) cause all or any part of its rights, benefits and/or obligations under this Agreement and the Security Documents to be transferred to any other bank or financial institution (provided that there shall be no more than two Banks at any one time) or other company or legal entity to be used in a "securitisation or similar transaction of that Bank’s loan (a “Transferee Bank"”) by delivering to the Agent a Transfer Certificate duly completed and duly executed by the Transferor Bank and the Transferee Bank. No such transfer is binding on, or effective in relation to, the Borrower or the Agent unless (i) it is effected or evidenced by a Transfer Certificate which complies with the provisions of this clause 15.3 and is signed by or on behalf of the Transferor Bank, the Transferee Bank and the Agent (on behalf of itself, the Borrower and the other Creditors) and (ii) such transfer of rights under the other Security Documents as the Agent or the Transferee Bank may deem necessary has been effected and registered. The Borrower's consent referred to above shall not be required in respect of a transfer if the relevant Transferee Bank is a Related Company of the relevant Transferor Bank. Upon signature of any such Transfer Certificate by the Agent, which signature shall must be effected as promptly as is practicable after such Transfer Certificate has been delivered to the Agent, and subject to the terms of such Transfer Certificate, such Transfer Certificate shall have effect as set out below. The following further provisions shall have effect in relation to any Transfer Certificate: