Transfers by Lenders. Any of the Lenders (the “Existing Lender”) may at any time assign, transfer or novate any of its rights and obligations under this Agreement to another bank or financial institution (such bank or institution being the “New Lender”), provided that (save at any time when an Event of Default exists and has not been waived or remedied) no such assignment, transfer or novation may be made without the prior written consent also of the Borrower), such consent not to be unreasonably withheld or delayed and to be deemed given in the event of no adverse response thereto from the Borrower within five (5) Business Days of its receipt of a request for approval of any such assignment, transfer or novation to any New Lender. The Borrower shall not be liable for the transactions costs incurred in connection with any such transfers from the Existing Lender to a New Lender.
Appears in 4 contracts
Samples: Loan and Guarantee Facility Agreement (KNOT Offshore Partners LP), Loan and Guarantee Facility Agreement (KNOT Offshore Partners LP), Loan and Guarantee Facility Agreement (KNOT Offshore Partners LP)
